Trade setup for the day

Yesterday was a flat day for us. Nifty opened higher, but sellers came back strongly and nifty which was 60 points up closed in 23 points up. Banknifty which was up by 200 points closed in only 40 points green. The American markets which opened in the red closed in a flat after the fed has cut rates for 2nd time in the year. The fed has cut by 25bps. I was expecting a rate cut in fed and we would rally on the news. The fed has cut rates as expected.


  1. I added a few butterflies for today's expiry.
  2. I bought nifty futures at 10860. Let's see if fed rate cut and crude fall favours me or not.
  1. The NASDAQ and DOW had fallen in the morning but after the fed announcement came that they have cut-rate, the Nasdaq and dow closed in flat.
  2. European markets also closed in the flat.
  3. Today morning the Asian markets are mixed. Nikkei is up by 1% on hopes of some news for bank of japan. The hangseng is trading with a cut of 0.5%
  1. The selling continues. There is no sign of their selling. 
  2. FII sold for 980cr and DII have bought for 780cr
  1. Crude has fallen after the Saudi fears faded out.
  2. Crude is now trading around $63 a barrel.
  3. $ is now trading at Rs 71.23
  1. Today is weekly expiry. Banknifty max oi is at 27500ce and 27000pe.
  2. Nifty max oi is at 11000ce and 10800pe
  3. Max pain of nifty and banknifty is at 10850 and 27300 respectively
  4. nifty may trade between 10800 to 10950
  5. banknifty may trade between 27k to 27.5k