Trade setup for the day


  1. Yesterday was a really bad day. We opened in green but started falling immediately. The main culprits were again the HDFC bank, kotak bank. Initially, Reliance was supporting but later even that started falling. 
  2. The retail unsecured loans for bajaj finance seems to be more and even that added fuel to the fire. 
  3. Now it is assumed that all results will be bad, especially that of the banks. 
  4. The corona virus fears seem to have decreased. 
  5. Trump now slams fed for not lowering rates and says that the economy would be even better if rates were lowered.
  6. We are at the critical point. Nifty is at 50DMA. I somewhat feel that this will be protected. If this breaks then we may fall further.
  7. We have been falling from 3 days consecutively now in nifty and 4 days in banknifty. The odds remain the same. Just because we have fallen does not mean that we will rise today. 
  8. Today is final date for AGR dues to telecom companies.
MY TRADES
  1. Today is weekly expiry. As usual, I carry butterflies.
  2. Today I will be busy in expiry trades. 
  3. Some of my banknifty positions are in little trouble. Let's see if any recovery comes. 
  4. I am busy with many things as I had to complete all undone jobs which were pending when I was in Goa, so I am not able to do any trades in intraday. Mostly from next week I will do intraday trades and will definitely post in the blog.
INTERNATIONAL MARKETS
  1. Yesterday, the US markets opened higher and closed lower. It did end in the green but with mild gain.
  2. European markets closed in the red. The major indices lost around 0.5%
  3. Today morning the Asian markets are in the flat to negative. SGX suggests that we may not open higher.
FII AND DII DATA
  1. Yesterday FII sold for 176cr and DII sold for 326cr.
  2. FII have sold for 2nd day in a row but the amount is not high. 
CRUDE AND $
  1. Crude is now trading at $62.5. Crude falling is good for us.
  2. $ is now at Rs 71.19
EXPIRY TRADE SETUP
  1. Banknifty has highest OI at 31,000ce and 30,500pe
  2. Nifty has highest OI at 12000pe and 12200ce
  3. MAx pain for nifty is 12150 and 30900 for nify and banknifty respectively.
  4. Nifty may trade in the range of 12050 to 12200
  5. Banknifty may trade in a range of 30500 to 31000

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