Expiry trade setup for 02 July 2020

  1. Yesterday was a wonderful trending day. Nifty started with a gain and the trend continued. Nifty gained closed to 125 points and banknifty gained 600 points. It is obvious that the banks took the lead. 
  2. Markets have closed above 10400. We are at the 61.8% retracement level. We need to check if this will be taken out. I will be aggressively long if this is taken out.
  3. There is section 144 in Mumbai due to Carona. The cases are rising and people are slowly getting used to this virus and the economy is gradually improving in the world. 
  4. Railways are initiating private players to run the trains. So this will open a wide room of opportunity for the private players. 
  5. Now Chinese construction are not allowed to bid for construction of roads, bridges etc in India.
  6.  Nasdaq again closed at the record high yesterday. 
  7. Yesterday the auto sales data came and it was as disappointing. Most of the companies sales were down and this was expected. 
  8. Gold is rising and has hit all-time high yesterday in India. It ATH was Rs 48871 for 10 gm. 
  9. There is still some tension in the Indo-China border but this may not escalate as talks have begun. 

MY TRADES
  1. Yesterday, I lost Rs 2500 in intraday futures trading. 
  2. In options trading, I was able to make a decent profit of around 25,000. I am carrying huge positions for today's expiry. Will be managing the positions as market movement. 
  3. Today the volumes will be low as my broker is not providing margins. 
  4. I am carrying huge strangle and iron condor positions.  
INTERNATIONAL MARKETS
  1. The US ended higher. The Nasdaq has again hit a record high. Dow closed in the flat zone.
  2. The European markets also closed in the red. 
  3. Today morning the Asian markets are higher. SGX says that we may have a gap up of 50 odd points. 
CRUDE AND $
  1. Crude is almost at $42. So the consumption is slowly picking up in the market.
  2. $ is at Rs 75.6
FII AND DII
  1. FII are still sellers even in yesterday's rally. I was expecting them to be buyers. 
  2. They sold for 1600+ cr and DII bought for 1377cr.
  3. This is not a good sign for the bull run to continue.
EXPIRY SETUP
  1. Nifty has highest OI at 10500ce and 10300pe
  2. Banknifty has highest OI at 22500ce and 21000pe
  3. Maxpain of nifty is at 10400 and that of banknifty is at 21600
  4. Nifty might be in the range of 10550 to 10300
  5. Banknifty might be in 21500 to 22500

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