Expiry Trade setup for 16th April

Yesterday was a very bad day. When we thought that the markets would have found a bottom and when markets had conquered 9000, markets had a different story to tell. Initially, markets opened well in green by gaining 200 points. Then in the 2nd half markets lost everything and closed below 9000. It looks like the downward story is not over yet.
The carona cases hit 20lak worldwide and almost 12000 in India.
The US markets lost yesterday as factory output plunged yesterday. The US is finalizing a plan to open the economy.
Today we have TCS results. Yesterday's Wipro result was not as estimated.
IMF has forcasted India's growth to 1.9% which has been reduced by 300 bps
Nifty has not broken 20DMA. This will be crucial.
Banknifty has not crossed 20dma.


  1. I just closed some of the positions which I had which were in profit. 
  2. For today's expiry, I added some short straddles and strangles.
  3. I have sold bajfin 1800pe. Will take delivery if it comes there as I already have some position and will average that.
  4. I have sold 9300, 9400, 9500ce for the weekly expiry.
  1. US has snapped 4day winning streak yesterday by closing in red. Dow lost close to 2% and Nasdaq lost close to 1.5%
  2. European markets also ended in the red. They had a big cut and the major indices lost close to 3.5%
  3. Today Asia is also in the red. 
  4. SGX shows that we may lose close to 100 points.
  1. Crude is now close to $29. The opec+ meet did not help in gaining.
  2. $ is at Rs 76+
  1. This is surprising. FII have bought 1300+ cr and DII sold for 1097cr. 
  2. I was expecting the opposite after the markets fell yesterday.
  1. Remember VIX is still above 50+
  2. Nifty has highest OI at 9500ce and 8500pe
  3. Banknifty has highest OI at 20000ce and 18000pe
  4. There will be a wide range for the day. Nifty may range from 9200 to 8600 
  5. banknifty may range from 18k to 20k.
  6. My volumes will be low as vix is high and any sudden reversal like yesterday will be difficult to manage.