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All time High done. Now what?

Plan for December 18, 2019

All-time High made as suggested in the last post. The big question now remains is now what? I think the market may open up tomorrow and then consolidate. There is no space to short yet, hold longs with trail Stop loss and enter on the long side in the pullback. There is a good opportunity in some stocks to enter on a pullback, best being Reliance. 

The global market looks good and the news is on the positive side. Markets can rise in general in this kind of environment. S&P500 of the US is not going to stop yet, and this can lead to the rise in global markets. The best trade is to be on the long side if missed the rally buy the pullback and be patient.

  1. Nifty buy with the trail stop loss of 12,100.
  2. Banknifty buy with the trail stop loss of 31,900.
  3. For nifty and bank nifty you can buy the pullback but do not short yet, as rally can be spontaneous.
  4. HDFC bank buy at 1,280 with the stop loss of 1,260.
  5. Axis bank buy above 760.
  6. Reliance is a great opportunity to buy at 1,560-65 levels with the stop loss of 2% and look for new highs.
  7. Ambuja scalp trade, buy above 200 and sell below 194.
  8. Acc scalp trade, buy above 1,470 and sell below 1,440.
  9. Keep SBI and ICICI on the long side, trend day tomorrow. 
  10. Volatility breakout trade (Inspired by Linda Raschke), here you buy or sell the breakout with an initial stop of 1% and trailing the targets.
  • Dr Reddy
I personally think if you missed the entries, buy-in pullback till scenario changes. Personally, my positions are heavily on the long side and I have nothing to do except to honor my trailing stop loss and enjoy how it pans out.
What are your thoughts at this new all-time high market? Do share in comments. 


Disclaimer-
All information is based on the current market situation. Take everything with a pinch of salt and consult your adviser. The outlook is for the personal use of the author and educational purpose for others.
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