Trade setup for July 2nd

  1. Trump and Xi have decided to put a break to the trade tariffs
  2. But, US proposes tariff worth $4billion of EU goods.
  3. June GST collections slip below 1lak crore.
  4. Nifty snaps 2-day losing streak.
  5. Auto numbers of 2 wheelers came and it has been falling. This shows that the auto sector really needs some stimulus. Let's see if the budget can provide that.

  1. Yesterday, I had some intraday trades in the options. 
  2. Sold some quantities of puts in banknifty when at opening and closed the trade by noon in good profit.
  3. Nothing much on positional as I am still not sure of the trend. I am waiting for the budget to give me the trigger.
  1. Yesterday US market rallied and closed with a gain of 1%.
  2. European markets also closed in green and gained close to 1%.
  3. Today morning, Asia is in a flat zone other than hangseng which is up by 1%.
  4.  SGX suggests that we may open in mild green.
  1. FII bought for 426cr and DII sold for 50cr
  1. The brent crude is again $65 mark.
  2. $ is now at 68.94.
On the weekly expiry, Nifty has the highest OI at 12000 on the up side and 11800 on the down side.
Whereas banknifty has highest OI at 31500 on upside and 31000 on the lower side.
Nifty max pain is at 11850 and banknifty maxpain is at 31300.