Trade setup for 12th May

 Now there are some tensions in the middle east. Palestinian organizations have fired some rockets to Israel which has killed a dozen people. Now Israel is vowing a tough response. There is a slight war-like situation and obviously, there will be uncertainty. This will obviously shoot the crude prices and obviously, the stock market will be affected. If this escalates then we may fall further. Now, as usual, all the Muslim countries will support Palestine and the US will support Israel. Now the international community will join hands to cool the situation. 

Dow made a high of 35000 days before yesterday and has fallen around 800 points from there. The RSI of dow was 70+ when it went above 35k. Yesterday it fell around 500 points.

Now all eyes on CPI, inflation data of the US which is due in some time. 

Oil shortages are also causing the rise of crude. Oil shortage + middle east will shoot the crude higher and all the calculation will go for a toss.

We are still suffering from the Covid issue only. Even after lockdown, not much significant change is seen in the numbers but the numbers are falling which is good news. Hope the numbers will fall and we flatten the curve very soon. There is a huge shortage of medicine in the country. 

Yesterday we saw the metals with exception of tata steel come off. I feel that the metal rally is near the top. I executed the trade which I have posted in yesterday blog and for now it looks good.

I did a live trade yesterday and I have put the video in youtube. You can see that video and follow for some quick intraday profits.

Now nifty almost kissed 15k and has retraced. So the upper end of the range is respected. Let's see if markets fall from here and go back to 14k.

The world markets are falling heavily as most of them were at their record highs. We did not inch higher as we had covid issue, lockdown issue. So now, even we may not fall drastically. But the global sentiment will definitely have an impact. We cannot go higher when the world is falling, especially in the USA.

Today we have Asian paint, upl, lupin earnings. 


  1. Yesterday in my Zerodha I Sold 14700pe. It was a naked trade which I have taken.
  2. For intraday, I traded in banknifty and Reliance where I was able to make around 2000. You can check my youtube video for that.
  3. Today is expiry and I will be busy in expiry trades. So no new positions will be initiated for today. 
  1. The US markets closed in the red. Dow fell close to 600 points and recovered some in the 2nd half. Today the futures are also in the red.
  2. European markets closed in the deep red. 
  3. Today morning the Asian markets are in red. Nikkei, HKG, Korea all have lost around a per cent.
  1. FII sold for 336cr and DII sold for 676cr. 
  1. Nifty has the highest OI at 15kce and 14800pe
  2. Banknifty has the highest OI at 32k pe and 33500pe
  3. Max pain of nifty is at 14800 and that of banknifty is at 33800
  4. Nifty may range from 14750 to 14950
  5. Banknifty may range from 33500 to 32500