Trade setup for 19th july

  1. Yesterday was a weekly expiry. It was a good expiry for me as I was able to make 68  thousand profit.
  2. Yesterday was a bad trading day as nifty lost 90 points and banknifty 300 points.
  3. We are beginning the expiry week. This week will be very volatile as many of the stocks have entered the compulsory settlement. Now brokers will block more margin as every day passes. So there will be a lot of long unwinding and short covering. 
  4. SBI, Reliance, autos all under pressure. HDFC twins performed well.
  5. The premiums will fall as the theta decay will be very fast now.
  6. Saying that, option writers also have a tough time as the premiums are very low due to low VIX.

  1. Yesterday, nasdaq and dow closed in green.
  2. The European markets closed in red.
  3. Today morning, Asian markets are in green. SGX suggests that we may open in green. 

  1. Today big boy Reliance is declaring results. The result is to be bad. Remember, reliance is no more an oil company. It's now an oil, retail, telecom company. I am very bullish on reliance for the long term. If you believe in the India growth story then reliance should be a part of your portfolio. In fact, more than 25% of my portfolio is Reliance
  2. Today Dabur is also coming out with its numbers.
  1. Yesterday FII again sold for 1404cr and DII bought for 329cr.
  1. Crude is still below $64 and $ is at 68.95