Trade setup for 18th June

Yesterday was another volatile day. As there was a Indo-China border issue,  the markets gapped down, then it recovered and went to green. Then in the second half, there was another wave of selling and markets closed in the red. The US markets also closed in mixed. Now there is a fear that there will be a second wave of the virus. But this may not be very prominent as now economies are opening up and people are slowly forgetting that there was a pandemic. Some companies are also showing positive on the trials as well. Yesterday, there was a supreme court hearing on the interest waiver and the court said that there is no merit on charging interest on interest. Now there is a high-level diplomatic talk between the 2 countries and there might not be a war as both are matured countries. Today we have the AGR verdict from the supreme court. Being expiry, this can play a major role in the indices movement. RBI is proposing some new regulations for housing finance companies. 

  1. Yesterday I did not do any future trades as there was an event(supreme court verdict on interest waiver).
  2. I have executed some baskets of butterflies. So I am planning to close them before the AGR issue takes a front seat.
  3. I will be doing expiry trades today. 
  1. The US closed in mixed. Dow closed in red but nasdaq was in mild green.
  2. European markets were in the green.
  3. Asia is under pressure. SGX shows that we will fall with a 70 point cut.
  4. The US futures are also down by 400 points.
  1. Yesterday the FII have sold less. They sold only for 400+cr and DII bought for 168cr
  1. Crude is at $40+
  2. $ is at Rs 76.15 
  1. Nifty has the highest OI at 9500pe and 10000pe
  2. Banknifty has highest OI at 21000ce and 19500pe
  3. Nifty has a maxpain at 9900 and that of banknifty is at 20200
  4. Today we have agr ruling so difficult to judge the movement of the market. Trade with hedges.