Trade setup for 6th may

I have released the video on doing covered call strategy. This strategy is used for getting regular income from stock market every month. You can see the video here

This is in English. Will upload Kannada and Hindi hopefully by this week. Please do give me your feedback and let me know if you have any queries.

The day before yesterday markets fell when there was no major news flow. Yesterday, in the morning the markets started in the green. It was looking promising, but then in the second half, we fell badly and closed in the red. Banknifty was the culprit. It rose 500 points in the morning and by the close, it was in red by 500 points. It has fallen 1000 points intraday.
Trump says that US must open the economy even if there are more deaths. He says that they are doing well on the vaccine side as well.
Markets are very volatile again. The vix is back to 40+. In India, petrol and diesel prices are hiked in an environment where crude is at its all-time low. Globally, crude is recovering as the economies are starting worldwide. Gradually, people are forgetting the Carona. The cases are increasing so as the recovery numbers. People are on the roads and the traffic seems to be coming back and things are going to the normalcy provided that we have a vaccine soon.

  1. Yesterday I bought banknifty futures and had put a SL trade with 100 points and this was triggered in no time. I booked the loss and kept quiet for the day without experimenting more.
  2. I have executed a strategy in bajajfinance which I had shared in the social media
    1. BAJFINANCE may 2200CEBuy *2
    2. BAJFINANCE may 2000CESell *1
    3. BAJFINANCE may 1500PESell *2
    4. BAJFINANCE may 1600PESell *1
    5. BAJFINANCE may 2800CESell *3
    6. BAJFINANCE may 2700CESell *3 This is a moderate risk strategy. Please leave a comment, if you need a video explanation of this trade. There is no name for this strategy. Its a combination of many strategies.
  1. The US markets closed in the green. Dow gained around 0.5% and Nasdaq gained more than a per cent.
  2. Europe was in green.
  3. Today morning Asia is also in the green. SGX suggests that we will open in the green. Let's see if we get follow through as we had the same environment yesterday as well.
  1. Crude is now at $31. The consumption is slowly getting back as major economies are starting up.
  2. $ is at Rs75.6. IT and pharma may do well in short term due to the $ revenue.
  1. Yesterday both FII and DII have sold 1000cr each.