Trade Setup for expiry 30th July

  1. Today we have the big coy Reliance coming up with results. We also have HDFC coming out with results as well.  Also, we have monthly expiry. So expect markets to be very volatile. 
  2. A day before yesterday, markets gave a sense that we have broken out and we may head higher. But yesterday that has been proved wrong. The big boy Reliance fell 5% in the second half ahead of its results today. Nifty went to 11350 and closed below 11200. This was the volatility which was there. This can continue today as well after the reliance result as it has huge weightage in nifty. 
  3. Gold is going higher and higher. 
  1. Will be coming out with a trade for Reliance today evening probably after 3 if things work as I expect. I am expecting Reliance to go up slightly. I am mildly bullish.
  2. I had executed the butterfly strategy few days back for this expiry.
  1. The US markets are higher after the interest was unchanged by the FED. The fed says that the US has entered a new phase as cases rise. Today we have many major companies like google, amazon coming out with numbers. 
  2. European market closed flat.
  3. Today morning the Asian markets are also flat. SGX suggests that we will open flat.
  1. $ is trading at Rs 74.79.
  2. Crude is at $43.79
  1. Yesterday both FII AND DII have sold. 
  2. FII have sold for 350cr and DII have sold for 500cr
  1. 11300ce and 11000pe has the highest OI in nifty
  2. 23000ce and 21500pe has the highest OI in banknifty.
  3. Nifty has a max pain at 11150 and that of banknifty is at 22100
  4. Nifty might range from 11100 to 11300
  5. banknifty might range from 21500 to 23000