Mitesh Patel: The angry young man of options trading

Mitesh Patel is one of the most visible twitter handle in the options trading in India. Not one to shy away from a confrontation, he is as aggressive on social media as he is with his trading.

A man with humble roots, Patel is by-and-large a self-trained trader who does not mince words to protect his territory. Having paid the market a part of his salary as tuition fees for nearly a decade before he could find his mojo, it is no surprise that Patel is possessive about his achievement.

Behind the aggressive mask is a shrewd and calculative trader who has discovered the secrets of making money. Patel is among those traders who post and discusses his trades, wins and losses with much fervour

Read more at https://www.moneycontrol.com/news/business/markets/mitesh-patel-the-angry-young-man-of-options-trading-4645741.html

Urge PM To "Set Aside His Deep-Rooted Suspicion Of...": Manmohan Singh

Prime Minister Narendra Modi should set aside his "deep-rooted suspicion of industrialists and entrepreneurs", which has halted economic development and ruptured India's social fabric, his predecessor Manmohan Singh has said in a hard-hitting editorial in The Hindu newspaper.

The "toxic combination of deep distrust, pervasive fear and a sense of hopelessness in our society is stifling economic activity, and hence, economic growth," the former Prime Minister said in the piece titled "The Fountainhead of India's Economic Malaise" published on Monday.

"I urge the Prime Minister to set aside his deep-rooted suspicion of industrialists and entrepreneurs and nurse us back to a confident and mutually trustworthy society that can revive the animal spirits and help our economy soar," Manmohan Singh wrote.

The state of the economy, said the former Prime Minister, was worrying not just because of what he called disturbing statistics like 15-year low in GDP growth, a 45-year high in joblessness, a four-decade low in household consumption, bad loans and a 15-year low in electricity consumption. "These are mere manifestations of a deeper underlying malaise that plagues the nation's economy today," he wrote.

Read more at https://www.ndtv.com/india-news/manmohan-singh-urges-pm-to-set-aside-his-deep-rooted-suspicion-of-2134337

Choose your cup of poison carefully

#Futures Has High Reward High Risk Low Win Rate#OptionBuying Has High Or Low Reward, Lesser Risk Low Win Rate#OptionSelling Has High Win Rate, Smaller Rewards, Can Be High Or Low Risk Depending On Strategy

Choose Your Poison Carefully https://t.co/DxjMdzSiBN

— Zafar Shaikh (@InvesysCapital) November 18, 2019

The concept matters

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed flat at 11894
- AD was flat

- VIX up 4%

- highest open interest 12000 CE
- max increase is 11900 CE
- expiry likely to be below 12000

Full blown recession?

The ineptitude in economic affairs is absolutely mind-blowing. I am calling it a full blown recession if the center's cash management situation is this dire. https://t.co/z1DwWQ4er2

— V. Anand | வெ. ஆனந்த் (@iam_anandv) November 16, 2019

How India’s growth bubble fizzled out

India’s gross domestic product (GDP) growth has slowed sharply from 8% a year last year to 5% in the second quarter this year. Optimists, Indian and international, say growth will pick up soon. The International Monetary Fund (IMF) projects the Indian economy will hum at 7.5% a year by 2021. Such optimism is dangerous.

GDP growth could, in fact, fall and languish in the 3-to-5% a year range. The ongoing slowdown is not a short-term disruption. Rather, a financial bubble that began inflating nearly three decades ago is finally fizzling out.

Indian policymakers have patted themselves on the back during these past growth years. They have relied on a narrow vision of economic liberalization, which could do little to generate long-term growth but which did create deep financial pathologies and inequalities.

Read more at https://www.livemint.com/news/india/how-india-s-growth-bubble-fizzled-out-11574004165054.html

Modi govt's 'unrealistic' tax targets take toll on IT officials, many quit

...Over a dozen tax officials interviewed by Reuters said they are stuck between a push to meet unrealistic collection targets, which influence their appraisals and transfers, and the fear of being accused of over-zealousness if they crack down on evasion.

Critics say Modi's demands of his tax officials are symptomatic of the confusion surrounding his government's economic policies, and that the bungling has contributed to a slowdown in growth.

Twenty-two top-level tax department officers have opted for voluntary retirement so far this year and around 34 did so in 2018, according to data provided by....

Read more at https://www.businesstoday.in/current/economy-politics/22-top-level-it-dept-officials-opt-for-voluntary-retirement-amid-govts-tax-targets/story/390451.html

BANKNIFTY weightage

NIFTY weekly charts

- trend is up
- spinning top/ doji for 2nd consecutive week

- as long as 11600 holds, nothing to worry

- waiting for weekly close above 12000
- so far this is not happening

- highest OI remains at 12000 CE...resistance

BANKNIFTY technicals

- trend is up
- support 30000
- resistance 32000

- 30500 expected to hold this expiry

The Trump impeachment comedy

A dude heard another dude who heard that a dude told a dude that he overheard another dude talking to a dude about the investigation of another dude. This is an impeachment case built to appeal to the moron class. You really have to be a dope to get suckered again by this. https://t.co/jLuAlKdRUS

— Dan Bongino (@dbongino) November 15, 2019

Ignore data if it does not support your views

We are fast approaching near inverse credibility on govt data. If they say good, it is bad. if they say bad, it is good. https://t.co/Sqjh55gzA4

— V. Anand | வெ. ஆனந்த் (@iam_anandv) November 15, 2019

Salaries do not attract GST

Open positions and stoploss

 

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed flat at 11895
- AD was 4:5

- doji was formed

-  highest OI at 12000CE

For option traders...

People ask all kinds of questions, knowing that I am an option seller. pic.twitter.com/M2AjmTnmXZ

— P R Sundar (@PRSundar64) November 15, 2019

You being right does not mean I am wrong

Stock charts

LAST updated: 14-NOV-2019 

AUROPHARMA

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed 0.25% in positive at 11870
- AD was 7:11

- VIX down 6%

- option writing support 11600 resistance 12000