High probability trading set up for 3rd Oct

Economic activity and institutional traders activity which will have influence on 3rd Oct trading

3rd October is a pressure date for stock market and an impulsive movement can be observed in market.

There are mixed news for investors and traders. Manufacturing pace picked up and there is healthy GST collection. However, auto industry faced muted sales and overall core sector growth reduced.

For the month of October, all eyes will be on MPC (Monetary Policy Committee) meet which will unveil its results on October 5. Most economists feel that the Reserve Bank of India (RBI) might raise interest rates by 25 bps. Apart from MPC meeting, investors will watch out for earnings from India Inc. for the quarter-ended September 30. [Source: Moneycontrol]

Fuel price is on rise and Rs. is depreciating against USD.

Government decision regarding management of  IL&FS might give some relief in redemption of mutual funds.

FII/DI status s on 1st Oct

FII net seller and DI net buyer. This is the repetition of same  of story for last few months. 

Technical analysis of nifty 

Astrological view of NSE trading for 3rd Oct

Astro phenomena is not showing  any clear trend. I expect between 130 pm to 230 pm there will be good movement in NBFC and private banks. Pharma shares might shows some trending moves as Mars is exalted at Capricon and Mars is in Aries in D9 chart where it is ruling.

As a disciplined trader, I found few possible good trades and will execute any three stocks based on technical set up in 5 min TF.

1. CIPLA
2. PEL
3. Gail
4. Havells
5. BataIndia
6. Concor             
7. BhartAirttel
8. Amujacement   

Post market update

All days are not equal. Today, I selected few good stocks but the result is not satisfactory

PEL                           749
Cipla                        (794)
Bharti Airtell            285

Brokerage                 (300)

Total profit    (60)

Total account balance 216967

Observations:

1. PEL closed early before it touched support 1. It could have gave me 1% profit
2. Cipla touched support 2 and I should have exited with 1% profit.
3. Bhartiairtel exited before it hits resistance 1 . This trade would have gave me 1% profit.

My exit rules are:

1. Stock hit SL
2. Stock hit support and resistance
3. Market changed direction in volatile way
4. Profit is 1%