Trade setup for the day

Yesterday was a blood bath in the stock market. Nifty fell 185 points and banknifty fell over 700 points. The reason was only crude crude and crude. Now the equity markets are in hands of crude and $ movement. Yesterday night the fear of Saudi oil faded out and brent fell drastically. So the stock market showed some recovery. Aramco said that production will be online very soon. Now all eyes on the US fed meet.


  1. Yesterday was one of the days for which I am proud of. I usually buy cheap options to protect myself from these kinds of knee jerk reaction. Those gave me wonderful profit yesterday. But yes, the positions which I am carrying are in slightly red. 
  2. The brent may recover as the Saudi fears faded. I will be aggressively executing put spreads today
  3. Yesterday had an intraday trade where I shorted nifty futures. But closed with 40 points profit. Would have got another 40 points if I had carried to the end of the day. But that is OK. I am happy and satisfied with the profit.
  1. Yesterday Nasdaq and dow closed in green. Nasdaq gained around 0.4% and dow gained 0.15%
  2. European markets closed in the flat terrain. 
  3. It was only us who fell drastically yesterday.
  4. Today morning the Asian markets are in mostly flat.
  5. SGX suggests that we may open in green.
  1. The FII's are still in selling mood only. The DII, however, did not support at all yesterday.
  2. Yesterday FII sold for 800+ cr whereas DII bought for a negligible 85cr.
  1. Crude is now at $64.35. Yesterday it fell by more than 4%. This is good for India if this fall continues. 
  2. $ is now at Rs 71.78. $ should come back within 70 if we have to go above 11500, 12000 etc.