Trade setup for July 3rd

  1. Yesterday markets were in negative initially but later closed in 44 points green.
  2. The bank nifty although closed in mild red.
  3. Nifty has now broken out of the range. Can we see 12000 breaking before budget??
  1. Now aviation stocks are in focus as govt begins to privatize 6 airports owned by airport authority of India.
  2. I had bought small quantities of jet airways a few days back. I strongly feel that govt won't allow the jet to take the kingfisher route. Let's see if I have bought a lottery ticket or junk.
  3. No major trade in FNO yesterday. I am designing an algorithm for intraday trades. Doing some backtests accordingly. Will start trading in the live market once the consistency is built in the paper trade.

  1. The US markets closed in green and gained 0.22%
  2. The US yield has gone down. This means that it is good for our financials.
  3. The European markets also closed in the mild green except FTSE which gained about a per cent
  4. Today morning, the Asian markets are in red. SGX indicates that we may open in flat.
  5. We have our own domestic news. So we may not follow international cues for some time.
CRUDE and $
  1. Crude fell 4% last night and is now back within $63. This is a piece of very good news for the Indian economy.
  2. This happened when OPEC has decided to cut supplies.
  3. $ is now within 69. This is also a good sign of Indian economy growing.
  1. Yesterday FII sold for 512 cr and DII bought for 141cr in the cash market.
  2. Even after moving higher from opening low, FII has ended selling. This is not a good sign