Hey folks. Please watch this. It’s taken 2 hours of solid research. I am sure you will like it. Where does Infosys bottom out?

Thanks for all the feedback.

Good morning

STUNNING RALLY
Market’s momentum extremely strong
Best ever nos by Kotak, should fire Bank Nifty
Fin Nifty expiry today, need to see HDFC twins
Bank Nifty now within 2% of a life-time high
Midcap Index up 6% in April, within 3.5% of new high
Nifty IT and Infosys also ended at highs for 2 days
Reliance in focus today ahead of board meet

BIG CUES TODAY
Auto sales mixed so far
Kotak Bank reports margin of 5.7%, ROA of 3%
Ultratech nos in line, outlook very strong
Reliance meet today, stock up 10% from March lows
2-day Fed meet starts today, hugely significant
Nifty and Bank Nifty above all major resistances

NIFTY OUTLOOK
Market has rewarded positional longs handsomely

Date Nifty lows
Apr 28 17885
Apr 27 17797
Apr 26 17711
Apr 25 17716
Apr 24 17612
Apr 21 17553

Nifty’s strategy has been to trail stop to previous day low
Now stop loss is sightly deep at 17,885
Nifty closed above the first target of 18,035
Next target of 18,235 is now open on Nifty
18,200-18,250 will be good profit booking zone
For day traders, better to buy dips and keep strict stop loss
Any dip to 18,000-18,050 can be bought, stop: 17,950

BANK NIFTY OUTLOOK
Bank Nifty is now very close to life high
Positional longs should train stop to 42,800 now
Each and every dip should be bought on Bank Nifty
Profit booking zone: 44,000-44,150
One reaction possible around life high of 44,151
((Show 3 month and 6 month chart of Bank Nifty))
For day traders, buy zone at 43,000-43,200, stop: 42,800

Live.

GM

HUGELY SIGNIFICANT DAY
Big day for global market, Fed’s rate decision today
If Fed hikes to 5.25%, will match highest of this century
Indian market will pre-empt Fed in last 30 minutes of trade
Positional longs can book profit and re-enter tomorrow
Taking any trades home today has some amount of gamble
Bank Nifty showed some signs of tiredness yesterday
Nifty IT’s contra rally will be tested over next couple of days

BIG NEWS IN AVIATION
Go First files for bankruptcy, IPO process was on
Go First news comes when aviation enjoying best period
Indigo rallied yesterday, may gain more today
Wadia group cos like Britannia in focus
Big impact on Bombay Burmah, holds 36% stake in Go

GLOBAL CUES: INDIA IMPACT
Indian market has decoupled from US market
Unless US market collapses, India won’t hurt much
Q1 might be more challenging for IT than Q4
Anecdotally, US recession leads to big rally in India

NIFTY OUTLOOK
Book all positions if Nifty starts to break 18,050
Monday’s big rally had disturbed logical stop loss
Logical stop loss for positional longs at 17,885
Buy zone at 18,000-18,050 if Nifty is stable
Very strict stop loss of 17,950 for intra-day longs
Book all positions at 3:20, take a fresh view tomorrow

BANK NIFTY OUTLOOK
Fin Nifty expiry impacted Bank Nifty yesterday
Crucial day for Bank Nifty today
First support zone for Bank Nifty: 43,100-43,250
Major support for Bank Nifty: 42,800-43,000
No thought of shorting till 42,800 is breached
Buy only if Bank Nifty stabilizes in support 1 or support 2
Very strict stop loss of 42,800 for intra-day and positional longs
Book all positions at 3:20, take a fresh view tomorrow

GM

WEEKLY EXPIRY PLUS FED OUTCOME
Market now believes US fed will pause but not cut
Big drop in US bond yields, Dollar Index approaching 100
India’s macros look strong if Crude continues to tumble
Better to focus on domestic economy stocks again
Nifty’s texture remains “Buy on dips” till 17,885
Big domestic nos today: Hero Moto, HDFC, TVS Motor, Dabur, UB, Tata Power

FEAR IN US, GREED IN INDIA
US markets going through a huge turmoil in regional banks
Big question: Can Indian market stay immune?
Possible that Indian markets continue to chart own way
After some profit taking, market can attempt a fresh high in May

NIFTY OUTLOOK
Today’s trading range: 17,980-18,210
Maximum Open Interest at 18,000 Put and 18,200 Call
Traders need to play the Nifty range smartly today
Buy zone: 17,985-18,050, stop loss: 17,950
Sell zone: 18,135-18,185, stop loss: 18,210
If Nifty trades above 18,210, need to chase via Calls
If Nifty trades below 17,950, need to chase via Puts
For positional longs, stop loss of 17,885 remains same

BANK NIFTY OUTLOOK
Today’s trading range: 43,100-43,500
Traders need to play the range smartly today
Buy zone for today: 43,000-43,100, stop loss: 42,900
Sell zone: 43,450-43,550, stop loss: 43,600
If 43,600 is crossed, need to chase via Calls
For positional longs, 42,800 remains the stop loss

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Good morning. Hope people made money yesterday. Especially in that afternoon view given on Awaaz. Golden rule of market: If you make huge money on expiry day, stay out the next day. Do anything but trade.

Thats why I didnt put any setup today. Had a sense today will be very tough to make money