Trade setup for 25th June 2019

  1. This is a monthly expiry week. Expect a lot of volatility. 
  2. Reliance has fallen around 10%. Its a big thing for an index heavyweight to fall 10%
  3. China has confirmed that its president will meet Trump at G20.
  4. Monsoon is bad as per skymet.
  5. Auto is in bad shape. Pharma is in bad shape.
  6. $ is not crossing 70 but IT major TCS at an all-time high.
  7. LIC sold 2% in axis bank. When LIC is selling, you can easily short.
  1. Now I am slightly biased on the negative side. There seems to be a reverse cup and saucer pattern in the nifty charts.
  2. Since the budget is there in a few days, I am slightly scared to short heavily. So my volumes are low.
  3. I am short on axis futures as LIC has sold.
  4. I have executed a put spread in nifty and banknifty.
  5. I will add more to this after budget or will do counter trades accordingly.
CRUDE and $
  1. Crude is struggling to cross 65. So, we may see it consolidating around that region.
  2. $ is also not crossing 70. 
  1. US markets closed in the red. Nasdaq closed with -0.32%
  2. Europe also closed in mild red.
  3. Today morning Asia is in red. SGX is in mild red.