Nifty is stronger than Bank Nifty and IT is firing. So far 2 out of 3 have worked. Only the Bank Nifty sell hasn't worked yet. Lets see if that also works

Keep in mind this was just for expiry. My overall positive view on Bank Nifty and view of 44,000 is intact from positional point of view.

Move in IT 😍. Remember this was the call before markets opened and not after open

Above 18,360, big short covering :)

Good morning

START OF DEC SERIES
5-week series, starts on a heavy note
Nifty very close to all time high
Most engines firing for markets now
Very high rollover of 82% in Nifty
FII long exposure at 77%

GLOBAL CUES
US Bond yields inch further down
US 10-yr yield now at 3.67 vs peak of 4.34
Brent and Dollar Index also remain benign
India has been among 3 best markets this year
Keep an eye on Nasdaq now, IT has bottomed
US data very supportive now of IT rally

NIFTY OUTLOOK
Had clearly mentioned yesterday Nifty will outperform
Yesterday’s bold call was Nifty IT’s outperformance
From now, need to see if IT can extend this move
Nifty IT just 121 points away from 200 DMA of 29,707
Nifty might consolidate ahead of fresh all time high
All time high should be taken out in Dec series
Fresh buy zone for Nifty will now be at 18,360
Nifty’s base has now moved up to 18,250

BANK NIFTY OUTLOOK
Bank Nifty remains the strongest Index
No major resistance till 44,000 on Bank Nifty
HDFC Bank is now leading Bank Nifty’s charge
Buy zone on Bank Nifty now at 42,800

Apologies for today, won't be able to do youtube live. Will resume from Monday

Look at Nifty IT once again!!!!!!

Second day it has shown big intra-day rally

Focus on this index now

Also crosses 200 DMA

We are in for a massive rally in mid and small caps in December. My piece. You might like this.

Weekend podcast

Good morning

THE CHINA FACTOR
China’s pain is normally India’s gain
ETFs may again shift from China to India
Indian market closed at all-time highs
Crude’s decline, Dollar Index to help India
“Buy on dips” remains the only trade so far

GLOBAL CUES
India stands out as cleanest shirt in laundry
Indian market enjoying best of cues from global mkt
Crude, Dollar, US Bond yields and China all lower
China’s troubles will have impact on commodities
Low commodity prices extremely good for India

TRADE SETUP
Nifty futures at 133-point premium
FII long exposure near all-time high
Nifty Put call ratio at 1.17
FII cash volumes low but buying resumes
Need to see if ETFs chase India again

NIFTY OUTLOOK
Need to track 2 levels in first hour today
On Nifty spot, Friday low of 18445 important
On Nifty futures, SGX Nifty low will be key
First trade will be to buy with stop loss of 18,350
18,350-18,400 will be good zone to add to longs
If Nifty trades below 18,350, need to get out of longs
For positional longs, stop loss now up to 18,250
No idea of shorting till 18,250 is gone
Nifty IT will be the first Index to show reversal

BANK NIFTY OUTLOOK
Massive Call writing at 43,000 on Bank Nifty
Bank Nifty faces resistance from 43,000-43,300
Buy zone for Bank Nifty will be at 42,800
Stop loss for Bank Nifty will be at 42,500
No idea of shorting till 42,500 is gone

First trade has played out

Now traders should stay nimble and trail stop or book proft

I say this because markets give you second dip on such days