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Daily trade setup for 15th may 2019

- Yesterday nifty finally closed in the green after 9 days of continuous fall.
- The upmove was not very convincing. The nifty fell close to 100 points in the last hour.
- FII sold 2011 cr and DII bought for 2242 cr. FII's are still in the selling mood. This is a little worrying news. But the net institution number is on the buying side.
- US closes in green as Trump says that the deal with China may be a possibility very soon.
- European markets also closed in green.
- Today Asia is flat with Hang Sang in green. SGX suggests that we may open flat. Nikkei which was red is now trading in green.
- VIX is at 27. I am expecting it to touch 30 by may 23.
- We have simultaneous uncertainty. One is the trade wars and the other one is the election.
- I had bought large quantities of reliance. To hedge, I had sold calls and had also bought puts. The overall trade is now in the green now.
- Also bought nifty calls. Will convert it to spreads if nifty continuous to fall.
- After yesterday's move, now I got some breathing space as some things worked for me.
- Jubilant food, Lupin will be coming out with results.
- I am planning to do a put spread for tomorrow expiry. Will be doing it in the phased manner for the entire day.
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