Trade setup for 8th April



 Today is the weekly expiry and this week was one of the most volatile weeks. Nifty fell from 14800 to 14450. Then it is back to 14800. This volatility is a little difficult to handle.

Yesterday was RBI policy and RBI has given a wonderful policy. Banknifty has already shown that by shooting up 400+ points. But still the bank nifty is weak as it has fallen a lot. I will consider that the banknifty rally will continue once it crosses 33500.

Nifty also shot and is now above 14800. It has recovered all the loss that it had on Monday. 

Yesterday it was reliance which was in green from the morning as they have taken some infra from Airtel. Again it is back to 2000. This 2000 is acting like some kind of jerky zone for reliance. It is just hovering around this zone without going anywhere.

The covid cases are rising but markets are not taking it seriously. May be, because there is a vaccine.

Now other cities are adding restriction as cases are rising.

Today you have the barbeque nation IPO which will be listing. It will be interesting to see of it lists in premium or discount. I have not applied for this.

USD-INR has shot up to 74.4. So IT will be focus and we will start earning from Monday with IT's

MY TRADES

  1. Frankly, after Monday's fall, I did not expect the market to recover by this week. 
  2.  The butterfly strategies I have done are in a safe zone and are giving me wonderful profit. But I had done some call-ratio, ironfly's which are in mild danger. I have added the adjustment legs to that. Lets see how it works out today.
  3. Today is expiry and I will be busy in the expiry trades
INTERNATIONAL MARKET
  1. The US markets closed in the flat zone. 
  2. The Europe was mixed. Dax and cac closed in red but ftse closed in green.
  3. Today Asian markets are mixed but the indices which opened in red are now recovering. SGX suggests a gap of 40 points. Lets see if that sustains.
FII AND DII
  1. Yesterday both FII and DII have bought. FII bought for 200cr and DII bought for 400cr. FII data is really confusing. 
EXPIRY SETUP
  1. Nifty has the highest OI at 15000ce and 14700pe
  2. Banknifty has highest OI at 33000ce and 32500pe
  3. Nifty maxpain is at 14800 and that of banknifty is at 33000
  4. Nifty may trade between 14700 to 15000
  5. bannifty may trade between 33500 to 32000


Comments

Post a Comment