Trade setup for 13th june

  1. Yesterday markets fell -0.5% due to global cues.
  2. Yes bank fell close to 2.5% as one more director has quit. I added some strategies around my cash portfolio. Still, the entire trade is in a loss. I have kept a mental stop loss of 125-130. 
  3. As expected, 12000 was very strong resistance. Nifty tried to cross a few times in last few days but did not succeed.
  4. Today is weekly expiry. Nifty is expected to be from 11800 to 12000.
  5. Banknifty is expected to be between 30800 to 31200.
  6. Max pain of nifty is 11900 and that of banknifty is 31000.
  7. Markets ended in green after 3 days.
My trades
  1. As I said, added some strategies around yes bank to save the portfolio loss. 
  2. Falling oil prices are favouring the cyclical and oil marketing companies. So bought ATM calls in HINDPETRO. I bought only 2 lots. So not worried about the loss and also will not hedge.
  3.  Today will be expiry trades in nifty and banknifty.
International market
  1. The US fell and ended in the red. Europe also ended in the red.
  2. Today morning Asia is in red. Hangsang, Nikkei is down by 1%.
  3. SGX is also down by 25 points. So we may not go up. 
Crude and $
  1. Crude is falling as global demand falls and US inventory rises.
  2. Now crude is at $60 per barrel. 
  3. This is good for India as we are a huge importer of oil. Saying that the global slowdown in the economy also forces us to reduce production and consumption. So fall in oil price due to oversupply is good. But fall in oil price due to global slowdown may not be good for India.
FII and DII data
  1. FII are now strated selling. Yesterday they sold 1050cr and DII bought for 271 cr.
  2. So FII selling may be the start of the downside. So will add protection for all the longs which I am carrying.