Trade setup for 17th july

  1. Yesterday was a wonderful trending day.
  2. Nifty opened in green and was trending higher. It closed by gaining 74 points.
  3. Banknifty was somewhat weak. It closed by gaining 124 points.
  4. Reliance, tata motors, yes bank contributed to the movement.
  5. The revenue secretary justifies the surcharge on the FPI.
  1. I had bought 10lots of reliance yesterday in the morning. I had a wonderful profit in the evening. So closed 5 lots and carrying 5 lots for expiry.
  2. Today is yes bank results. So I executed a short straddle in that. I also see that the IVR and IVP are highest. So I expect the premiums to die after the results. Also, I have bought puts to protect the lower side. 
  1. Yesterday Nasdaq closed in red and lost 0.43% and dow was almost flat.
  2. The European market closed in green and most of the leading indices gained around 0.5%
  3. Today morning the asian markets are in red.
CRUDE and $
  1. Crude is now at 64.56. Yesterday it fell close to 3%. This is a piece of very good news for India.
  2. The prices of metals are increasing in the international market. This is also good for nifty as we have many metal stocks like hindalco, tatasteel, vedanta
  3. $ is now at 68.71. 
  1. Yesterday again the FII sold 445 cr and DII bought for 637 cr
  2. This is the only thing which is stopping me from going long aggressively.
  3. FII has sold around 4250 cr in the last 11 sessions. 
  1. Today we have wipro and yes bank results which are coming.