Trade setup for 7th July

  • Yesterday there was another good day at the market. We have been rallying for 4 consecutive days. Yesterday the 2 heavyweights HDFC Bank and Reliance contributed majorly to the rally.  
  • All these days there were war fears at the Indo-China border but the stock market did not care and was rallying higher. Yesterday, in the afternoon there was news that India and China have started disengagement. Then markets started to fall. T
  • he markets are rising all the walls of worries. Some weeks back all were thinking of making new lows in the market. Now all are expecting the market to make all-time high in this year.
  • Some time back I told that I wouldn't be surprised if markets make an all-time high this year.
  • Now nifty is almost at its 200DMA.200DMA is at 10900. There might be some resistance there and there could be some resistance at 11000.
  •  Nasdaq is at a record close. The US markets are in 5 day winning streak. 
  • There seems to be no vaccine for the virus for another year. Most of the vaccines which are getting developed are in phase 1 and 2. There are 2 major phases after this which might take time.
  • Bajaj finance and other NBFC are gaining momentum. Bajaj finance shot up close 6% yesterday. Their loan book in moratorium has reduced substantially. 

MY TRADES
  1. I was able to make a profit of almost 1700 in my futures trading which was shared in telegram channel. I have created a call spread in banknifty which is also in mild profit. I may carry that to expiry.
  2. I had to run for cover yesterday as my reliance trade was in danger. I added some adjustment trades to that.
  3. In nifty I have the executed below positions
    1. 9900 pe X 1
    2. 10000pe X -1
  4. I will be adding butterfly's for this weekly expiry from today.
INTERNATIONAL MARKETS
  1. The US markets are just rallying. Nasdaq is making new record every day. S&P and Nasdaq are having a 5 day wining streak.
  2. European markets are also in green and closed more than a percent.
  3. Today morning the Asian markets are mixed. They opened lower but they are gaining.
  4. SGX suggests that we may open in flat to negative.
FII AND DII
  1. Yesterday both the FII and DII were buyers. FII bought for 348cr and DII bought for 263cr
  2. Now FII have started to buy which is good.
CRUDE AND $
  1. Crude is at $43. 
  2. $ is at Rs 74.87

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