Trade setup for the expiry day

Yesterday was another good day for the market. Now everything seems to be good. A few days back all were fearing recession. Nifty is up for 3 consecutive days. This rise may continue if we do not get any more surprises. Trump tweets change many things. He has delayed the tariffs on China due to the talks which will there in some time. The global markets cheered the talks and the global markets were good. We will have our IIP and CPI data today.

MY TRADES

  1. I sold a few lots of nifty and banknifty yesterday. I was expecting the market to fall slightly today as a gap down. But that may not happen. I may have to close in a slight loss. Will wait till 3:15 and will close the trade if necessary. 
  2. I have not hedged the above trade as my volumes were less.
  3. I had bought some auto stocks some time back expecting some upmove due to GST council meet. Yesterday I closed some in good profit. Will reenter again if I get a chance. I am happy even if I do not get as I still have some positions.
INTERNATIONAL MARKET
  1. Yesterday Trump's tweet gave a boost to the US markets. Nasdaq gained 1% and dow gained around 0.85%
  2. The market is expecting ECB to provide some relief.
  3. European markets also gained around 0.5 to 1%
  4. Today morning the Asian markets are also in the green. But hangseng is under pressure.
  5. SGX suggests that we may open in flat.
FII AND DII
  1. FII may have stopped selling for now. Not sure yet. 
  2. Yesterday they bought for 266cr and DII bought for 1132cr.
  3. Hope FII do not change their colour.
CRUDE AND $
  1. $ is at Rs 71.65
  2. Crude is down 2.5%.. Today it is at $61.23
EXPIRY TRADE
  1. Highest OI in nifty is at 11200ce and 10900pe
  2. Highest OI in bnf is at 28000ce and 27500pe
  3. Nifty maxpain for nifty is at 11000 and for banknifty is at 27700
  4. I am expecting a range of 27600 to 28000 in bnf and 10950 to 11150.

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