Trade setup for 26th April


Today is Monday. The last 2-3 Monday's has been very bad. Will we have that again? SGX is not suggesting that for now.

 Now Covid is becoming the talk of the town. Now India is becoming the epicentre as new variants are emerging. Bangalore, Mumbai and Delhi are competing to take the top spot in the highest number of cases. There is a shortage of beds, oxygen, medicine etc as cases are rising at an alarming rate. 

The lockdown in various cities like Delhi, Mumbai, Bangalore may continue as cases are rising.

There was anger in India when the US declined to export raw materials to India. But now the US has agreed to send Covaxin to India. They say that the US is our ally, Pakistan and China is our enemy. But the US is the most cunning person of all. They know how to change their colours. They did not become the world's number one just like that.

Today we have SBI card, Tech Mahindra results today. We had ICICI bank results and it looks like it has missed the street estimates. Even HCL tech misses estimates. 

There is a new wave of Covid and there will be new lockdowns but markets may continue to rally as they are now used to it. I was bearish till last Thursday. I would have been bearish if 14k was broken. But 14200 proved to be a support for the third time and that changed my view. Now I am bullish but not ultra bullish and all my trades are on the upside. I am expecting the expiry around 14500. Now 14200 and 15000 is the range. 

MY TRADES

  1. I have executed a put spread in my zerodha account and I am already sitting in a profit. Today my profit is set to increase. I may think of closing this and take another trade if the profit is more than 5k.
  2. I have executed the below trade 
    1. -1 X 14500ce
    2. -1 X 14500pe
    3. +1 X 15000ce
    4. +1 X 14000pe

INTERNATIONAL MARKET

  1. The US markets closed in the green. Dow gained more than 200 points and Nasdaq gained more than a percent. 
  2. European markets closed in the flat zone.
  3. Today the Asian markets are in green due to positive global cues. SGX is suggesting a positive start.
FII AND DII
  1. The FII Sold 1360cr on Friday and DII bought for 1695cr
CRUDE AND $
  1. Crude is at $66.13
  2. $ is at Rs 74.87


 

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