Trade setup for 29th April



 The last week has been very strong. Nifty has moved more than 500 points and banknifty moved 2000 points. Today also SGX is suggesting a 150 point gap. We may cross 15000 if this happens. Now all the bears are trapped. As many states imposed lockdown, many would have gone short in the markets. Today will be the final nail on the coffin. Nobody expected that nifty would move to 15k this month, at least I didn't expect. 

Biden has announced a family stimulus and he had addressed the joint session of the congress for the first time. The moment the address started, the US futures shot up. Obviously, even SGX and Asian markets shot. He emphasised creating more jobs and taxing the wealthy.

Yesterday there was a US fed meet and the fed has kept the interest rate at 0.

Apple came out with results and it has beaten the estimates. Even facebook came out with earning and even that has beaten the street estimates. 

The covid cases are rising everywhere. There are lockdowns but it looks like stock markets are in no mood to go down. Even stocks like PVR shooting up 20% in a week is really surprising. Markets are clearly betting on the post-vaccination.

MY TRADES

  1. In my zerodha account, I have executed a call spread
    1. -3 X 15050ce
    2. +2 X 15250ce
  2. Most of my put spreads are in wonderful profit. I also had some call spreads which are now in the danger zone. Now I should be doing a lot of adjustment for them as today is expiry day.
  3. Today I will be busy in expiry setup. So I may not initiate fresh trades.
INTERNATIONAL MARKETS
  1. The US markets closed in the red. They were probably waiting for the fed and the Biden's congress address. The futres are now trading in the green.
  2. European markets closed in the green. 
  3. Today morning the Asina markets are in the green and SGX is suggesting a massive gap. It will be interesting to see if this gap will be sustained.
FII AND DII
  1. FII bought for 766cr and DII bought for 466cr
EXPIRY SETUP
  1. nifty has highest OI at 15kce and 14700pe
  2. Banknifty has highest OI at 34500ce and 33500pe
  3. max pain of nifty is at 33000 and that of nifty is at 14750
  4. nifty may range from 14900 to 15000
  5. Banknifty may range from 33700 to 34500



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