Trade setup for 19th August

  1. Yesterday was another good day for the markets. We shot up close to 130 points. The banks have started to rally. We have the autos and the Reliance which also contributed. We are at 11400. We may break 11500 in this weekly expiry if things continue like this. 
  2. The S&P has made a record close yesterday. Nasdaq is at its all time high. But we are still almost 1000 points away from the highs. We may rally accordingly. 
  3. Tesla, amazon are rallying to record closed in the US market. Now Elon musk is the 4th richest in the world.
  4.  Reliance is venturing into pharma retail as well and this will give good competition to amazon. 
  5. IPL t20 title sponsor is now Dream11. 
  6. We have US elections in a few months so we may not fall more. 


  1. Yesterday I had shorted suntv which has hit my SL order. There was a loss of around 6000. I will stick to indices as stocks are not liquid and slippage will be high.
  2. Today I have have to do a lot of adjustment trades if 11450 is crossed. Let's see. Any trade will be done in the second half.
  3. I have sold huge quantities of 10000, 10500pe for December series. I don't think the virus fears will grip the market again. 
  4. I will be creating Iron fly at 11500 for December series today.
  1. US markets were mixed but S&P has made a record high. 
  2. European markets closed in red.
  3. Today the Asian markets are flat. SGX says that we may open in mild green
  1. Yesterday FII bought for 1134. They are buying in huge quantities in every market.
  2. DII sold for 379cr. 
  1. Crude is at $45
  2. $ is at Rs 74.75