Trade setup for 7th May



 Thank god I am a trader. It looks like I am wrong again. I expected the markets to fall and come below 14k. But again I am proved to be wrong. Markets are rallying and have managed to close in green for 3 consecutive days without institution participation. I think I should stop giving my views as it seems to be not working. ðŸ˜‚😂😂

There are new cases and the cases are rising day by day. But the western world seems to have recovered mostly. I have clients in the US who are telling me that schools, daycare, offices, pubs are all opened. My friends also attended some concerts in the US. I am sure very soon even we will peak out and the cases will flatten out. Now the US has decided to waive off the patent on the covid vaccine. So anyone can copy. But given the covid situation, we are in will take at least one year to copy the vaccine and get it into production with the technology and knowledge. The US is the most cunning nation. No wonder they are the world's number one. They are aware that we have no other option other than buying from them, even by letting off the patent. 

We may not have a nationwide lockdown. Stock markets rallying is already giving that sign. There might be rigid restrictions. I think stock markets have factored that.

Russia has updated the sputnik where you can have just one dose for covid. 

Now some other European countries are planning to waive off the patent on their vaccine.

Yesterday was an expiry day and markets were very very silent. There was no disturbance at all. I was able to make an intraday profit of around 1lak 30 thousand. For the week, I have made more than 5lak profit.

In Wednesday's inner circle meet, I did mention that the expiry will have a + or - 100 point movement which happened. Sometimes even my predictions do work, especially when I don't trade or trade low volumes. 

Hero came out with numbers and the stock has rallied. This quarter, I did not do any pre result trade. I think now most of the major companies have come out with numbers. So I will let go this quarter.

The US markets are on fire with the recovery ahead. Even Nasdaq closed in the green after 4 days of red.  Today we have the US jobs data which everyone is eagerly watching.

MY TRADES

  1. I will not be executing butterfly till nifty is in the range of 14k and 15k. I will be executing iron fly instead as that has more profit in the range markets.
    1. -1 X 14800ce
    2. -1 X 14800pe
    3. +1 X 14400pe
    4. +1 X 15200ce
  2. I am waiting for the opportunity to short SAIL. The more it shoots, the more conviction I get. I hope it reached 150 soon.
  3. The call ratio spread which I  had in JSW steel is in wonderful profit. As of yesterday, I was sitting in a profit of 30 thousand.
INTERNATIONAL MAREKTS
  1. US is on fire
  2. Europe is on fire
  3. Today morning the Asian markets are also in fire. SGX is suggesting a gap up of 70 points.
FII AND DII
  1. Now they are buyers. Yesterday they bought for 1200cr and DII sold for 600cr
  2. Let's see what will happen to today's job data report. 


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