Daily trade setup for 10th june

  1. Now all eyes on the budget which will be Modi 2.0 first budget.
  2. Will this give triggers to nifty to rise above 12000? That is a million dollar question.
  3. Personally, I feel that the budget may not provide the necessary fuel. But markets have surprised me many times.
  4. Nifty 20dma which is 200 points lower seems to be a good support.
  5. Trump has now eased tariffs on Mexico. Trump announces to put a tariff on a country, market fall.  Then he tells that he was joking and markets recover.
  6. US job data which came was also not as expected.
My trades
  1. Nifty 12000 short straddle was done on Friday. 
  2. I will buy more only if 12000 is crossed convincingly and I don't expect that to happen soon. I will wait. 
  3. ICICI bank found good support at 20dma. I am buying 2 lots of ICICI futures today.
  4. May take some positions today in weekly expiry. 
  5. Reliance is falling. Being a heavyweight of nifty, recovery of reliance is very much needed and now crude is also rising. I am having Reliance in cash bought at a slightly high rate.
International market
  1. On Friday, the US rallied more than 1% as Trump relaxed tariffs on Mexico.
  2. Europe also rallied above 1%
  3. Today morning, Asia is also in green. Nikkei is 1% up and Hangsang is 2% up. SGX indicates that we will open in green. It is up by 60 points.
Crude and $
  1. Crude is rising. It is now $63.44 per barrel.
  2. People who trade in crude can now buy as crude is expected to touch 65 now.
  3. $-Inr is now at 69.47. As crude rises, $ may cross 70-71.
FII and DII data
  1. On Friday, FII sold for 478cr and DII bought for 179cr.