Trade setup for 9th oct

Markets are really weak now. Every rise is being sold. On Friday, the last hour fall did wash the sligh hope which I had. Nifty has fallen for 6 days now. This is definitely not looking good. We have lost half of what we gained when the finance minister announced the corporate tax cut. The China-US trade war may likely to continue. The hopes of it getting resolved soon is also not likely to happen. The consumer confidence is at the 5 year low. I am closely watching the 50DMA. I will short agressively if this is broken. I somewhat feel that this may not be broken.

MY TRADES

  1. The markets may most likely to continue its fall. There might be some minor pullbacks which will be sold into.
  2. I executed call spread. 
    1. +nifty11300ce *5
    2. -nifty11400ce*5
    3. -nifty11500ce*5
    4. -nifty11450ce*5
  3. I had 28000 short straddles. Will do adjustments today if markets do not rise as it is nearing my breakeven point.
INTERNATIONAL MARKET
  1. We had a holiday yesterday. 
  2. The US markets fell drastically as the trade wars don't seem to end soon. 
  3. European markets also closed in the red.
  4. Today morning, the Asian markets are also weak. 
  5. But surprisingly, SGX is in green. We may open in the green but need to check if we will sustain that.
CRUDE AND $
  1. $ is trading at Rs 71
  2. Crude is now trading at $58. Definitely, the oil-producing nations are not happy with this. Its a good news for India though. I am worried what the oil continues to fall and trade talks do not come with the outcome. The oil-producing nations are not going to be quite. They may do something to create tension in the world.
FII AND DII DATA
  1. The FII have sold for 494 cr and DII have bought for 904cr
  2. Its no surprise that FII are on a selling spree. They are in no mood to buy any time soon.

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