Trade setup for 8th September



  1. As I had told yesterday, 11200-300 would be a good support area. We were negative in the morning but Europe opened in the green and in the last hour there was a good short covering. Yesterday, nifty was in green and red many times. It was a really difficult day for day traders and scalpers as it has trapped both who were long and short. 
  2. Idea-Vodafone has rebranded its entire company.  From yesterday we are seeing only VI add. My confidence in the company has become stronger now. I added more to my portfolio. As I told, as I get confidence, I will add more and more. It is for a very long term investment. Definitely not for trading. 
  3. ED arrests Chanda kocher's husband in videocon money laundering case. 
  4. There is still some disturbance at the Indo-China border. Not sure if this will be escalated or will it be resolved. 
  5. Now India is in second place in the number of carona cases.
  6. Trump tells that he does not want to do any biz with China and threatened companies doing biz with China. As elections are nearing, these kind of things are common. But the US markets react for all these. The tech stock which saw a massive profit booking in some days are now consolidating in the nasdaq.

MY TRADES

  • I did this strategy yesterday for the month 
    • 11300pe X 1
    • 11200pe X -1
    • 11100pe X -1
  • I have bought more shares in vodafone idea(VI)
INTERNATIONAL MARKET
  1. The US markets are again beginning to continue its upside rally after Trump promised more jobs in the US. However, the tech stocks were lower as there was a massive run in a short time. But the speed of falling has reduced. Lets see if there will be fresh selling in apple, tesla etc
  2. European market were in green as trade talks will begin soon between UK and the Europe after brexit.
  3. Japan GDP shrinks to 28%
  4. Saudi is cutting oil price for Asian countries. 
CRUDE AND $
  • $ is at 73.34. 
  • Crude is at $42.07. It is good for India as long as it is within 45
FII AND DII
  1. FII were net flat.
  2. However DII have sold for 800+cr. DII usually sell when things are good so that they will have enough capital to support the market when FII start selling. So is there any event which may trigger the FII to sell??

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