Trade setup for 17th June

 The US fed leaves the rates unchanged but increases the inflation forecast. They told that there may be 2 rate hikes by 2023. The markets did not like that and the dow closed in the red.

Today morning the US futures are also in the red and the Asian markets are also in the red. But some of the Asian markets are off their lows. 

It will be interesting to see if the 15700 will be supported or not for today. We need to see if the dips of today will be bought like any other day. We have rallied almost 1000 points from 15000 very soon. So a correction is required for a healthy upmove. Breaking 16k  may not be as easy as breaking 15k. But I have a sense that 16k will be touched in the coming days.

China is sending its first astronaut to space. 

Biden met Putin in geneva and they claim that the meet was fruitful.

The delta version of the virus seems to be slightly dangerous. Not sure if this will be the 3rd wave and will bring the markets down. 

This week was a little challenging for me as nifty went from 15800 to 15600 and then from 15600 to 15900 and then falling back to 15700 today. 


  1. The 15400 straddles which I had done in the monthly expiry will now be in a good spot as markets are likely to open in the red. Yesterday I did think of doing any adjustment but I did not do as markets closed near day's low. It was a risk that I took which did work. Today I will be sitting with a profit of more than 6-7% which is good ROI. We have another week for this trade.
  2. I had a bearish view for this week but the markets went all over the place. I have done a lot of adjustments and today will be another challenging day for me. 
  3. I had 15700 straddles in my Zerodha account where I am trading with a capital of 2lak. Today that will be in wonderful profit as it is not closed yet.
  1. The US markets closed in the red as the fed outcome did not cheer the markets. The tech also fell and the Nasdaq also closed in the red.
  2. Europe closed flat.
  3. The US futures and the European futures are in the red.
  4. Today the Asian markets are also in the red. SGX is suggesting a 100point gap.
  1. Yesterday the FII AND DII sold for 800+cr.
  1. Brent crude is at $73.5
  2. $ is at Rs73.6
  1. Fro the OI it looks like markets should trade between 15700 to 15800. But the opening can be below 15700. 
  2. Max pain of nifty is at 15800 and that of banknifty is at 35000. This might change once there is a huge gap down. 
  3. Nifty might range from 15650 to 750. Banknifty may range from 34500-35300


  1. Very detailed analysis and details on your trade.
    Thank you for your effort, Nifty Nayak!


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