Trade setup for the day

  1. Yesterday was a good day for us. It was purely driven by DII(Govt funded) and finally market closed in green. 
  2. FII are still sellers in this market.
  3. Fed has cut the rate by 0.25% but has called this as a midcycle adjustment and not much rate cut will be there. Trump slammed Powell and told that he has let us down again.
  4. In the morning, the markets fell 60 odd points. Then probably the DII funds entered and the market closed in green. Banknifty gained 84.
  5. Yesterday nifty rebounded at 11000 and banknifty at 28500.
  6. Zee deal might play a crucial role in holding nifty today.
  1. I have initiated a put spread on my account in nifty and banknifty. This is a riskier. So I wouldnt suggest beginers to go for this.
  1. Nasdaq and Dow closed in the red. Both lost around 1%.
  2. European markets were mixed. The FTSE closed in red but the DAX and CAC closed in green.
  3.  Today morning, the Asian markets are flat. SGX is down by 40 points. Let's see if 11000 is taken out.
  1. Yesterday FII sold for 1497 cr and DII bought for 2479 cr. DII has decided that they are not going to allow the markets to fall.
  2. FII are selling and this is a big issue. How long can DII buy is the issue. 
  1. Today is weekly expiry and nifty may not close below 11000 and banknifty may be in the range 29000 to 28500
  2. Max pain is at 11100 in nifty and 28900 in banknifty.