Trade setup for 14th May

  1. Yesterday was totally range bound day after opening with a gap. The reason was simply because of the fear of Nirmala Sitaraman. Huge liquidity and relief is given to many sectors and for taxpayers. 
  2. But now all the excitement of 20lak cr seems to be over. Every market in the world has fallen after the announcement of the stimulus. So we are not going to be different. 
  3. Yesterday, Fed chief announced that more stimulus might be needed and there might be a fear of recession. So as soon as he told this, the US markets fell drastically. 
  4. Vedanta is now planning to delist from exchanges. It opened with a circuit gap up. But gained only 2% while closing.

  1. I did not do any new positional trades or intraday trades yesterday as I feared the FM meet. 
  2. Today I will be doing the expiry trades. 
  1. US closed in the red. Dow lost 500 points and closed in red for 3rd day. Nasdaq closed for 2nd day. Now nasdaq is in red for 2020.
  2. European markets also closed in the red.
  3. Today Asian markets are also in the red. We will be going back to the point where we started before the 20lak package.
CRUDE and $
  1. Crude is at $29. Crude is again in pressure as demand falls and supply is in excess
  2. $ is at Rs 75.47
  1. Nifty has the highest OI at 9500ce and 9000pe
  2. Banknifty has highest OI at 19000pe and 20000ce
  3. Max pain of nifty is at 9350 and that of banknifty is at 19500
  4. Nifty may range from 9000 to 9300
  5. Banknifty may range from 19000 to 19500