Trade setup for the day

 Happy to be blogging after a long time. Had a much needed and a good break after a long time in Goa. Went to a casino and for the first time came out of the casino with a profit. I just went there for entertainment and had no hopes of winning as this time I knew that the odds are totally against me.

Coming to markets, I was close to markets even though I was out. Thanks to mobile technology.

  1. Yesterday the market fell in the opening and by close, the nifty gained most of its losses. But it still closed in the mild red.Nifty fell 20 points and banknifty fell 250 points.
  2. Dow closes at a record high again as US and China are planning a major deal.
  3. The markets are not sure that the trade deal between the US and China may happen soon. Trump administration is planning for a phase 2 deal with China before the election.
  4. India's trade deficit falls to 11.25 billion dollars. Both exports and imports fall.
  5.  No major companies are coming with the result today. We have HDFC bank coming with results this Saturday.
  1. Yesterday the US markets closed in the flat zone. Nasdaq gained just 7 points and Dow gained 90 points.
  2. European markets also closed in the flat.
  3. Today morning the Asian markets are also flat. SGX suggests that we may open in the flat zone.
  1. Crude is now trading at $64.46
  2. $ is at Rs 70.81
  1. Yesterday FII bought for 279cr and DII sold for 648cr.
  1. Nifty has the highest OI at 12400ce and 12300pe.
  2. Banknifty has the highest OI at 32000ce and 31500pe
  3.  Nifty has a max pain at 12300 and banknifty has a max pain at 31900.
  4. We may consilodate around this area. So nifty may trade in a range of 12300 to 12400.
  5. Banknifty may trade in a range of 31500 to 32000