Trade setup for 11th May

 Nifty almost touched 15k yesterday but it did not touch. As I was referring to before, nifty is trading in the range and we have a wider range. The range was from 14000 to 15000. Now we are at the upper end of the range and as expected, there will be a U-turn. This time it was clear that we would fall as we are in lockdown and most of the biz are shut for 15days to 1 month. 

Nifty has rallied for 3 consecutive days and we have shot up more than 500 points in these 3 days. It looks like we gave give back some today.

WHO told that the 3rd mutant of the virus from India is a global risk. At least now, the world markets are not taking carona seriously. Till now they were rallying like there was nothing like a pandemic.

Dow Jones hit a high yesterday and has corrected. Today the US futures are in the red. The techs were the highest losers in yesterday's markets. Obviously, the Nasdaq ended lower. Even today the Nasdaq futures are in the red. Looks like the money is moving from Carona favourite tech to other sectors as biz is opening for other sectors in the west. 

Dogecoin has lost 22% yesterday after Sundays recovery. Elon musk gave a negative statement and it fell 40% on Saturday. Then SpaceX told that they will consider dogecoin for their moon mission. This made it recover almost 30%. Yesterday again it has fallen 17%. I opened an account in WazirX to invest in these, but WazirX has blocked adding funds from the banks.

In India, metals and pharma are on fire. I think the metal rally is a little overstretched. I will be executing some strategies in some of the metal stocks


  1. Yesterday in my Zerodha account, I sold 15200ce and pe. By the end of the day, I closed all positions without carrying them for today as I was not confident on the move and I didn't want to take a major risk in this account. I was able to make a profit of around 1400 which was good. I am still carrying 14700ce/pe short in my personal account, which will be in wonderful profit today.
  2. Today I will be executing the below strategy in SAIL

  3. Tomorrow is weekly expiry and it looks like 15000 will not be broken. I will aggressively be executing the below trade
    1. +1 X 14900ce
    2. -5 X 15000ce
    3. +4 15200ce
  1. The US markets opened in green but closed in the red when WHO issued a warning that the Indian mutant of the virus is slightly dangerous.
  2. Dow closed in flat. But nasdaq lost more than 2%
  3. Europe closed in the red
  4. Today the Asian markets are in the red. SGX is suggesting a gap down of 200 points.
  1. FII have bought for 583cr and DII sold for 476cr
  2. Today we need to see how much FII will sell.
  1. Crude is at $67
  2. USD is at Rs 75