Daily trade setup for 24th may 2019

1. Yesterday was a big day. Modi is set to become the prime minister for the 2nd time in a row. 
2. Nifty went up by 200 points and closed in the red. Banknifty also went up by 1000 points and closed in the red.
3. Nifty crossed 12000 and came back. 
4. Now the volatility in the market will reduce which is indicated by VIX. India Vix is now less than 20.
5. Now policies and global cues will decide the direction of the Indian market.
6. Yesterday Nasdaq and dow fell more than 1%. due to trade war fears with China.
7. Brexit uncertainty is still there. Yesterday Europe fell by more than 1.5%
8. Today Asian indices are in green. SGX suggests that we can have a good opening.
9. Crude is down which is good for India. Now crude is at $68. $ is now at 70.
10. Yesterday FII bought for 1352cr and DII sold 593 cr.
11. FIIs have now turned buyers.
12. Today Ashok leyland, astrazeneka, bata, page are coming with results.
13. Autos are not performing well. Ashok leyland 85 pe at 1.5. I am planning to buy that today as earnings trade. lets see. This is a high-risk trade. 
14. I had lot of positions in Reliance, sun pharma, nifty, banknifty, bajajfinance, adani group stocks. Yesterday I started booking profits from the morning and by the end of the day, I closed with a profit of around 1.4 lakh.
15. Now I dont have much positions. I am not much bullish now. I think seeing the global cues we may not rally much as the major event is also done.
16. I will short nifty and banknifty for the june series in a phased manner.
17. I do not know if Modi is the best person for India or not. But, he has definitely set a benchmark and a baseline for the people who aspire to be PM. Now, not anyone can be a prime minister.