Trade setup for the day

Yesterday was a good day. Met Jegan(@itjegan) in Bangalore and had dinner with him. We had some things discussed.but it was just a casual meeting.
Coming to markets, Friday was another volatile day.  Nifty opened in green and gained 100 points and banknifty opened and gained 400 points. Then markets fell by 150 points. Even banknifty was n red. Finally, at close, both gained marginally. Infy results were as expected. Nifty is still well above 200 DMA. You can be bullish as long as it is above this mark. IRCTC is listing today. Let's see hoe another public sector performs.

MY TRADES

  1. I am slightly bullish. So I am buying a few options and I am collecting that by selling a few puts.
  2. When you are bullish you buy the leaders. So I added few to my HDFC bank and bajaj finance stocks to my kitty. Planning to add Reliance to this basket as well. 
  3. I believe that there is no point in buying penny stocks and expecting them to run. 
  4. Some asked me my view on yes bank. I would say to stay away as it is highly uncertain. 1 day it is up by 10%. Next day it is down. It will be pure speculation if you bet on these kinds of stocks.
  5.  I believe that the next Google or Reliance will be google or reliance.


INTERNATIONAL MARKET

  1. On Friday, the US markets closed in green. Infy ADR was slightly down. Lets see how it will play today in our markets.
  2. European markets also closed in the green.
  3. Today morning, some of the Asian markets are having a holiday.
  4. The hangseng and nikkei are in green.
  5. SGX suggests that we may open in flat to positive.

FII AND DII DATA

  1. The good news is that the FII has started to buy. On Friday, FII bought for 750cr and DII have sold for 700 cr. DII selling is not an issue. 
  2. They will immediately turn buyers if things go wrong.
  3. It is the FII which we want to buy in order to boost the sentiment.


CRUDE AND $

  1. Now crude is raising slightly. Maybe it has bottomed out.
  2.  Any aggressive crude oil trader can go long in the crude. 
  3. This shows that the economy is reviving and the slowdown might be improving as there is not many tensions in world politics. 
  4. Yes, there is some tension in Turkey and Syria. But that is not a major as of now to take crude higher. 
  5. Crude is now at $60.21 and $ is at Rs 71



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