Trade setup for 27th May



 Nifty has had a wonderful rally and yesterday it closed at 15300. The all-time high is just inches away. Today we may not be able to make an all-time high and that might happen in the next expiry. Yesterday the option premiums fell drastically in the second half, especially in the banknifty.

The bull markets are intact. This is definitely not the time for shorting. There will be an opportunity for shorting as markets cannot continuously keep going up. Wait for the right time till that happens. Now is definitely not the time. We will make ATH first and then we may touch 15000(is what I am feeling).

Amazon buys MGM. There are a lot of memes where they have replaced Jeff Bejos pic instead of lion in MGM logo :)

China is coming strongly on Bitcoin and its miners. Iran has put some restriction on bitcoin mining. This space is getting interesting and interesting.

Yesterday the India vix shot up 10%. So there is some fear in the markets as we inch towards the ATH. I am expecting a negative close for the day today.

Today we have earnings from Eicher motors, Cadila and sun pharma.

Covid fears are slowly going away. Not much improvement in the cases or the deaths. The vaccination is picking up and we are now 2nd nation after the US who have vaccinated the highest number of its citizens. 

In the US, inflation is gaining importance. We need to see how FED will react to these. 

$ index is above 90 again. Nothing to worry about for now. But one should keep an eye on this as well.

MY TRADES

  1. My Zerodha trade is in the sweet spot and today I may come out with a profit of around 2000 which is 1% of the capital.
  2. Most of the trades which I have taken are in a good spot for now in this weekly expiry.
  3. I am planning to do a strategy in BHEL for next month as it is out of fno ban
  4. Today is expiry and I will be busy in the expiry trading.
INTERNATIONAL MARKETS
  1. The US markets were flat. The techs gained so did the Nasdaq.
  2. Today morning the US futures are in the red.
  3. European markets were flat
  4. Today the Asian market is in the red. SGX is suggesting a 30 point down.
FII AND DII
  1. FII has bought for 250cr and DII have sold for 450cr.
  2. They have bought for 5th day in a row. The FII inflow is reducing. We need to see if they will sell.
EXPIRY SETUP.
  1. Nifty has the highest OI at 15400ce and 15200pe.
  2. Banknifty has the highest OI at 35000ce and 34500pe
  3. Max pain of nifty is at 15200 and that of banknifty is at 34500
  4. Nifty may range from 15200 to 15400.
  5. Banknifty may range from 34k to 35k



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