Trade setup for 03rd May



 Finally, the election verdict is out. It's TMC in Bengal and DMK in Tamil Nadu. The LDF has retained in the Kerala belt. BJP has won in pondy and Assam. So markets may not be surprised as this was the expected result. DMK has made an appearance after 10 years. So Sun TV may see some excitement today. 

Prashanth Kishor who is the election strategist for the political parties has decided to quit this space.

Reliance came out with fantastic results. It has already made a rally in the last week. So it will be interesting if the rally will continue after the rally.  

The GST collection has been at a record high. It has crossed 1.4 lk cr. So the economy is in a good shape. This is a very good indicator because GST cant be this without the contribution of elements like cement, steel and many other essential material consumptions.

Today we have the US  manufacturing data.

The covid cases are rising and the covid did not stop the election result celebration. The EC warning did not have any impact. This was expected. The vaccines shortages are there and there might be more lockdowns.  

Today the Japanese and China markets are closed due to a public holiday.

The US futures are slightly positive.

Now markets are in a wide range. The range is 14k and 15k. Nifty is in this range and there is huge volatility. Nowadays 200 point movement in the nifty and 1000 point in bank nifty has become normal. 


MY TRADES

  1. My positions are low as we had 2 major events factoring today's opening.
    1. reliance result
    2. election results
  2. Today as per SGX we will have a gap down. I will be going long in this fall.
  3. I will be executing the below trade
    1. buy nifty futures 1 lot
    2. buy nifty 14000pe 1lot
    3. buy reliance futures 1lot
    4. buy reliance 1800pe 1lot
INTERNATIONAL MAREKTS
  1. China and Japan are closed
  2. The US markets closed in the red on Friday. The futures are mildly in the green.
  3. Europe also closed in the green.
  4. Today the Asian markets are in the red. SGX is suggesting a 200 point gap down.
FII AND DII
  1. FII sold for 3465cr and DII bought for 1400cr. 
  2. This is the massive selling by FII in a single day.
CRUDE AND $
  1. Crude is at $66.6
  2. $ is trading at Rs 74.2



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