Trade setup for the expiry 7th nov

Yesterday was a volatile day. Markets looked like there was a downfall. But sudden spike came up and nifty kissed 12000 yesterday. We are like now 150 points away from an all-time high. But yesterday the markets fell as soon as it touched 12000. Government has given 25000 cr boost to the troubled real estate sector by setting up AIF(alternate investment fund). Real estate contribution to Nifty is almost 0. So not much use for nifty. Today is nifty and banknifty expiry. There is mild fear in IT when companies are talking about firing people. When India grows, the sector that is affected will be IT as $ value will see improvement.

MY TRADES

  1. Yesterday morning I executed butterfly in nifty and banknifty for today's expiry but sudden movement forced me to do some quick adjustments which were necessary.
  2. I did not get any triggers on the scanner which I had developed for the paper trade. I am improving the scanner code to get more clear trade and eliminate any false signal. I am backtesting it. Let's see if this works. 
FII AND DII 
  1. Yesterday FII bought for 1011cr and DII sold for 1117cr.
CRUDE AND $
  1. Crude is at 61.76
  2. $ is at 70.91. 
INTERNATIONAL MARKET
  1. The trade deal between China and the US which was supposed to happen in December may not happen as the location is not yet fixed.
  2. Softback which is the highest venture capitalist reported a loss. This will be a major setback for the startup environment. 
  3. Yesterday the US markets fell by 0.3%
  4. European markets gained mildly and closed by gaining around 0.3%
  5. Today the Asian markets are all in red. SGX also suggests that we may open in the flat zone. 
EXPIRY SETUP
  1. Nifty has the highest OI at 12000ce and 11800pe
  2. Banknifty has the highest OI at 31000ce and 30000pe
  3. Maxpain of nifty is at 11900 and that of banknifty is at 30500.
  4. Nifty may trade in 11900 to 12000
  5. Banknifty may trade in between 30400 to 30800.

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