Trade setup for the expiry day 18th july

  1. Yesterday nifty was in a flat range. It closed by gaining 24 points and banknifty closed by gaining 95 points.
  2. The earning season is not providing any triggers for the markets to move.
  3. The VIX is below 12 now. The option premiums are very low.
  4. In a major victory for India, Kulbhushan yadav's death sentence is considered as a violation of Vienna convention. #INDIAWITHKULBHUSHAN
  5. Yes bank results were worst, Wipro results were bad, Mindtree results were worst. No no good news from the corporate earnings. So 12000 is not looking to be broken very soon.
  1. I was expecting bad results from yes bank. So I had bought 2 lots of 80pe. This was just a timepass trade. Did not think much about results as volumes deployed is low. Will close today if it is in profit.
  2. Converted the Reliance futures which I had bought to call spread. I am still in profit as I closed half of the futures position in profit day before yesterday.
  1. Yesterday US markets were weak. Nasdaq and dow closed by losing close to 0.5%
  2. The European markets also lost more than 0.5% yesterday.
  3. Today morning, the Asian markets are also in red. Nikkei is down more than 1% and other Asian indices have lost more than 0.5%
  4. SGX is down by 20 points. Let's see if we follow SGX.
  1. This is the only good news we have. Crude is below $64. It is trading at its 2 week low mark
  2. $ is at 68.1
  3. The fall in crude is due to the global economic slowdown. 
  1. Yesterday FII sold for 16cr and DII bought for 208cr. The FII selling has reduced. This does not mean that they will start buying from now. We need to wait and see.
  2. The good thing is that they are not selling heavily.
  1. Highest OI is at 11600pe and 11700ce for nifty and 30500pe and 31000ce in the banknifty
  2. max pain for nifty is 11650 and 30700 for banknifty
  3. nifty might trade between 11600-700 and bnf may trade between 30500-800.