Trade setup for 11th june

  1. Yes bank interim MD quits. So this might be in pressure. I have some cash holding. Will add some strategies around this so that I am protected on the downside.
  2. Trump has now threatened to add more tariff on China if Xi doesn't attend G20.
  3. Trump is also now behind the US fed as he is not happy with the rates.
My trades
  1. I didn't do any trade yesterday. I was just monitoring my positions as some moved from red to green and some moved from green to red.
  2. Budget in July may trigger the next move. So short straddle for June can be the safe play as of now.
  3. The stocks which I am tracking is ICICI bank, bajaj finance for going long and auto stocks to go short. Waiting for more confirmation.
International market
  1. Yesterday the US closed in the green as Nasdaq gained more than a per cent
  2. Europe also closed in the green as they gained around 0.5 - 0.7%
  3. Today Asian markets were in red in the morning but now all are reversed and all are in the green.
  4. SGX indicates that we may open in green. I am bullish for the long term but I feel that we may consolidate for June and July(at least till budget).
  5. Dow has risen for 6 consecutive days.
Crude and $
  1. Crude is now recovering from its lows. Now Brent crude is around $62.5.
  2. $ is at 69.65. Trump handling the trade wars situation carefully. So not major fluctuation will be seen in crude and $ in the near term.
FII and DII data
  1. Yesterday FII bought for 216cr and DII bought for 170cr. 
  2. Both FII and DII are neutral now. Not much activity having as of now.