Trade setup for 07th June



 On Friday, we did have a consolidation day. We are at the upper end as we have rallied a lot in a small timeframe. There should be a healthy correction for the rally to continue. On Friday, there was a fall but that fall was bought and nifty closed in the flat. Reliance has closed below 2200. Bajaj finance is now at 6000. This is a massive move by this company. The banks were in pressure as they had rallied a lot in the last week.

We have around 2k point in the banknifty to make its all-time high. The global markets are also making ATH every day. 

There was an RBI policy on Friday and as expected it was a status quo and banknifty fell as I expected. I was able to make a good profit by doing an event trade in banknifty. 

The cryptos are in pressure after Goldman Sachs report that there will be a further crackdown.

The housing finance sector is in focus as most of the housing finance are rallying. Recently there was a tenancy bill which was passed and that night give some boost to the housing sector.

The covid cases are coming down. I did get my vaccination on Saturday. Maharashtra has eased some restriction. Soon other states will also follow. So today the unlock shares will be in focus and they may rally.

There was a landmark deal in London where there was a global minimum corporate tax of 15%. This enables countries to collect more taxes from corporates where they make money and not just where they are headquartered.

The US jobs data which came had reduced than the expectation. 

Petrol is at Rs 100 in many cities. The global crude is expected to rise as global consumption is increasing as unlocking is happening in many countries. Soon we will be near the pre covid consumption level.

Jannet yellen says that a high-interest rate is good for their economy.


MY TRADES

  1. The monthly straddle which I have done is in profit. No adjustment is done still.
  2. On Friday, I did an event trade in banknifty and was able to make a profit of 94 thousand. 
  3. I have executed the below strategy in weekly and monthly expiry
    1. +1 X 16000ce
    2. -1 X 16100ce
    3. -1 X 16200ce
    4. -1 X 16300ce
  4. I had executed a backspread strategy some time back but that is in loss, and I have not adjusted yet. I will wait for this week and take a call. 
  5. Now I am going to do intraday strategies more as markets can be volatile and any fall can be sharp. 
INTERNATIONAL MARKETS
  1. The US markets closed in the green. The techs came back strongly and the Nasdaq was a major gainer on friday.
  2. Europe also closed in the green. Some indices closed in ATH.
  3. Today Asian markets are slightly low but many asian markets are off lows.
  4. SGX is suggesting a +ve start.
CRUDE AND $
  1. Crude is at $71+. I am keeping a close eye on this.
  2. $ is at Rs 73


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