Trade setup for the day


  1. Sorry as I was not able to write the blog yesterday. Woke up very late and did not get time for blogging.
  2. Narendra Modi will be featured with Bear Grylls in Man vs Wild. Saw an image in the net telling that Modi is hunting the remaining bulls with bears. :) 
  3. Coming to markets, the fall continues. There was some hope after the day before yesterday pullback. But yesterday's trade has shown that the fall is not over yet.
  4. The surcharge on FPI is proving to be costly for the govt. 
  5. Yesterday nifty fell 95 points. Banknifty was flat. Banknifty was supported by ICICI bank which came with good results. If it was not for ICICI then we would have gone down by another 25 points.
  6. SBI has cut rates. LIC divestment on the cards.
  7. We have the US fed meet which begins today. Rate cuts are expected by the fed.
  8. We almost kissed the 200 DMA. Will we break??
  9. Hero and axis coming with results today.
MY TRADES
  1. I had bought nifty futures day before yesterday. Yesterday I averaged by buying a few more lots and converted that to a covered call.
  2. My stop loss will be 11000. If that happens then I will add more legs to the trade. I will add more legs if 200DMA is broken.
  3. In cash market, I am slowly accumulating yes bank. I think it may not fall further.
INTERNATIONAL MARKETS
  1. The US markets were mixed. Nasdaq closed by losing 0.4% but dow closed in mild green.
  2. The European markets closed in mixed.FTSE gained more than 1%. Whereas DAX and CAC closed in green
  3. Today morning the Asian markets are in green. SGX suggests that we may open in green.
DII AND FII DATA
  1. FII's are not liking the FPI surcharge. They are on a selling spree. Yesterday FII sold for 700 cr and DII bought for 1350cr. DII's are supporting heavily for the Indian market.
  2. FII selling is half of what they sold 
CRUDE and $
  1. USD is now trading at 68.73
  2. Crude is trading at $64 per barrel.

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