Expiry trade Setup for 13th August

Yesterday was Wednesday and it was expected to have a Wednesday volatility which did not happen as expected. Nifty opened in the red and then there was a recovery of more than 60 points. As expected, the banks led the recovery and banknifty closed in the green. Before opening, the SGX was suggesting that we would have a bad day which did not happen. Sometimes, SGX overreacts. 

The gold again continued to fall after rallying for a very long time. Even silver continued its upside rally. 

COVID cases are rising and no one seems to care. There is some safety concern about Russia's vaccine.

Govt has allowed companies to sell E-vehicle without battery and battery can be sold separately.

After weChat ban in the US, Chinese counterparts are now thinking of curbing the sales of iPhone which has a huge market in China.

Today is weekly expiry and as usual, we do expiry trades.

UK has officially entered recession but the UK markets closed in green. Sometimes markets are really funny.

MY TRADES

1. Yesterday, I did a mini expiry trade and was able to come out in a small profit.
2. I had some margins for which I have executed strangles. 

INTERNATIONAL MARKETS

1. The US markets closed in green. Today the dow futures is slightly negative.
2. European markets were in the green.
3. Today morning the Asian market are in flat.

FII AND DII

1. FII bought for 351cr and DII sold for 900cr
2. In FNO markets, FII are short. We need to wait if there will be short covering or we might fall more if the 11100 is broken.

EXPIRY SETUP

1. 11500ce and 11200pe has the highest OI in nifty
2. 22500ce and 22000pe has the highest OI. After a long time I am seeing highest OI in this small range.
3. The premiums are not good. So will keep the volume low for half of the day. 
4. Nifty has a maxpain at 11300 and banknifty has at 22100
5. Nifty might be in a range 11200 to 11400
6. Banknifty might be in a range 21800 to 22500