Trade setup for the expiry day 23rd july


  1. Till yesterday, nifty and banknifty would gap up and would stay there. There was no much chance for the intraday traders. But yesterday, nifty opened above 11200 and there was a huge selling and nifty fell to 11050. Then there were buyers at these levels and nifty gained 100 points from there.
  2. Reliance has crossed 2000 mark. It has single-handedly taken nifty yesterday. Axis bank shot up due to good results. L&T results were not good. 
  3. We have rallied a bit too much in a short time. Now we are just 10% to the all-time high. It's hard to believe that nifty fell 30% in 2 months and is recovering in 2 months. Not only us, but even the global markets have also recovered at the same rate. Nasdaq is already at high. S&P is at 5% from an all-time high. 
  4. Yesterday's high can be considered as resistance for today. Even the OI analysis says that. Will take fresh calls for today if that is broken. Till that, my view is to sell every minor rally that I see today.
  5. Now the US-China war is slightly extending as they have closed the consulate in Houston. 
  6. This is earning season and many companies are delivering pretty good earnings as per expectation and the covid crisis. 
  7. Today we have Biocon and HDFC AMC. US has paid Phizer and Biontech to produce 100 million Covid vaccines. 

MY TRADE
  1. I am pretty busy in adjusting my Infosys trade which has gone wrong. As of now, it is in pretty good shape. I will have to manage it for another week. Let's see if I will be lucky this time.
  2. I have executed butterfly yesterday 
    1. 11200ce X 1
    2. 11250ce X-5
    3. 11300ce X 4
    4. 11150pe X 1
    5. 11100pe X -5
    6. 11050pe X 4
  3. I have executed huge amounts in December contracts. I believe that we will make new high by that time. Lets see.
INTERNATIONAL MARKET
  1. Now the International markets are consolidating. May be getting ready for the next big move.
  2. Yesterday the US markets were flat 
  3. European markets were in red. The major indices have lost more than a percent.
  4. Today morning the Asian markets are also in the mild red. We need fresh triggers to go higher.
FII AND DII
  1. In the starting of the month, FII were selling as if there was no tomorrow. Now from past 3-4 days they are buying as if there is no tomorrow. 
  2. Yesterday the FII bought for 1600+cr and DII sold for 1130+cr.
  3. DII selling is to support the market.
CRUDE AND $
  1. Crude is at $44. As I told sometime back that crude above 40 is a clear indication that the consumption is improving.
  2. $ is at Rs 74.75

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