Trade setup for the day

Yesterday I was not able to write the blog as I woke up late.
Coming to markets, it was another bad day for the market. Nifty lost 36 points and banknifty lost 200 odd points. Nifty made a 100 point intraday recovery and it looked that nifty would close in green. But the recovery was sold into again. Thanks to CG power which fell 20% due to misuse of the funds in the company. Yes bank fell 7% as they have more exposure to CG power. The major draggers were Reliance, HDFC. Surprisingly autos are recovering. Maruti, Tamo closed in green.


  1. I have started trading intraday with a capital of 5lak. From last 2 days, I am able to make 2 thousand a day by utilising 2lak. Will continue these kinds of trades for another month. Let's see whether the system is reliable. 
  2. For positional, I have taken short 11500 straddles for December.
  3. For this month, I have put spread in yes bank. +YESAUG65pe 1lot, -YESAUG60pe 3lot
  4. Executed covered call for sun pharma.


  1. Yesterday the US markets closed in the red. Both Nasdaq and dow lost around -0.5%.
  2. European markets also closed in the red.
  3. Today morning, the Asian markets are in red. SGX is now down by 20 points.
  1. Finally, FII has decided to buy. Yesterday both FII and DII have bought in the cash market
  2. FII bought for 373cr and DII bought for 296cr.
  3. Is this buying just a small break from selling or was it actual buying. We need more confirmation as the value was just 300 odd crores.
  1. $ is now trading at Rs 71.70. As I told, as long as $ is above 70, the IT and pharma will be positive. 
  2. Crude is now above $60. The first time it moved above 60 this week. Let's see if this movement continues. Lower crude is always good for India.