Trade setup for the day

Yesterday was another bad day for the Indian markets. Nifty fell 98 points and banknifty fell 263 points. Yes bank fell another 7% due to its exposure to CG power. CG power had another down circuit day. Yesterday HDFC and kotak bank did not fall much. The major dragger were ICICI, Reliance, bajaj finance. SEBI relaxes some FPI norm. Let's see if short-covering comes today.


  1. I had an intraday trade in nifty and banknifty options yesterday. I was able to make 5% of the capital deployed. Since these are high-risk trade, you cannot deploy huge capital. It can be traded with small capital. I traded this in 2 lak and was able to make around 11000 profit. I am still in the initial research phase. Will have to check this for at least 1 month if this is a successful model
  2. I bought more puts in Yes bank as I had executed put spread in that. Since Yes bank is very volatile, I am playing it very carefully. 
  3. Also, today is expiry. So I executed some butterfly strategy for today. I had executed some butterfly on Tuesday as well.
  1. Yesterday the US market closed in green and the gained around 1%.
  2. European markets also gained more than 1%.
  3. Today morning the asian markets are trading in the flat territory. SGX suggests that we may open in red.
  1. FII are in no mood to change their mind. As expected, yesterday's buy was just a gimic to trap small unknown traders.
  2. Yesterday FII have sold for 770cr and DII bought for 353 cr.
  3. The FII are expecting a stimulus from govt and they are not happy with the surcharge.
  1. $-INR is trading at Rs 71.56
  2. Crude is at $60.36
  1. 11000ce and 10800pe has the highest OI.
  2. 28000ce and 27500pe has the highest OI.
  3. Max pain is at 11000 for nifty and 28000 for banknifty
  4. nifty may range from 10900-11000