Trade setup for the day

On Friday, markets fell initially and recovered to close in the flat territory. Banknifty gained 500 points from intraday low. Auto slowdown, yield curve inversion are signs of recession. This happened in 2008 and all are fearing that we may have a recession. But I do not agree with this view. The situation in 2008 was totally different but now things are more complex now. Today even Raghuram Rajan also highlighted the same view.

MY TRADES

  1. Now I am experimenting with intraday trades on a more frequency level. I am targetting 1% of the capital deployed with more frequency. The capital deployed will be less(Around 5lak). It is still in the initial stage, so I may not be able to give more details. If this is successful which I believe will be, then I am planning to start a co-working space in Bangalore where like-minded people can sit together and trade. Ping me on whatsapp if you believe in this.
  2. Now I am bullish and I do not believe that the economy is in the recession. So I have executed spreads for the month of September and December.

INTERNATIONAL MARKET
  1. The US markets rose by 1.6% on Friday.
  2. European markets also grew by 1%.
  3. Today the Asian markets are also in the green. Hangseng is up by 1.5%. SGX suggests that we may open in green.
CRUDE AND $
  1. $ is now trading at 71.15. IT and pharma industry will be benefitted as long as it is more than 71.
  2. Crude is now at $59. This is good for emerging markets like India.
FII AND DII DATA
  1.  The FII is on a selling spree. On Friday they sold for 1339cr and DII bought for 1058 cr.
  2. FII selling is not scaring the govt. The finance minister is in no mood to discuss the surcharge on the FPI. 

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