Trade setup for 18th May

  1. FED Chairman Powell said that he is confident that the economy will come back but may not fully recover in this financial year. That has given some sentiment positive to the markets and the US futures are slightly in the green.
  2. Investment is flowing into Reliance JIO. Now General Atlantic has invested  $870 million.
  3. The final stimulus has been given by the Finance minister. So nothing much that can excite the markets. 
  4. Today Reliance will be providing major support to the market.
  5. Lockdown is now extended to May 31. But there are a large number of relaxations.
  6.  There was a hope that aviation and rail would be allowed in the lockdown-4, but that did not happen so again they might be in pressure.
  1. My Reliance spread might be in little danger today if there is a major movement. But that is fine as I have a lot of options to mitigate the risk.
  2. On futures trading, I was able to make 1k profit. Now I have moved the money to Zerodha and will be trading in 1 lot. Let's see how things go on. I am updating all in the blog and telegram.
  3. Now I am bullish if Friday's low is not broken. So most of my trades are bullish.
  4. Today I will be giving the video of how to trade for bajaj finance which is coming tomorrow.
  1. Global markets are slightly positive. The US markets closed in green. 
  2. European markets also closed in the green 
  3. The US futures are also in the green.
  4. Today morning the Asian markets are also in the green. SGX suggests that we may open in flat zone.
  1. FII have sold 2388cr and DII have bought for 1225cr
  2. This FII figure is very bad for the markets. Some time back 2000+ cr was the monthly sell value of FII. But now they are selling that in a day.
  1. Crude is now trading at $31+. 
  2. $ is at Rs 75+