Trade setup for 9th June

 Yesterday a lot of websites were down including CNN, Reddit, NewYork times, amazon web services and UK govt sites due to some technical issue. But it was resolved soon and things started to work. People assume that it was a terrorist attack but later it was due to some technical issue.

Now the entire world markets are in a consolidation phase. Obviously, it should as all markets have rallied a lot. The consolidation phase is good for a healthy market. The longer the consolidation phase remains, the stronger will be the next leg of the rally.

Yesterday nifty was flat but banknifty fell drastically. 

Nifty RSI had gone above 70. This means that it is in the overbought region. Now 2 things will happen. Either it will goto sideways for some time and continue the rally or it will fall. You short only when the Fibonacci retracement happens. Else, use the dip to enter long positions.

Now there is a good sectorial rotation which is happening. IT is now in charge. The last leg of nifty was due to reliance and IT. Banks are now taking a backseat. Will the buying be back in banks is a million $ question. Still, bank nifty has unfinished biz of ATH which all indices have done.

Mumbai Hyatt hotel has closed operation as they don't have money to pay salaries and maintenance. 

Crude is rising. This is the one which we should keep an eye on and this has the power to pull the stock markets down. 

The US Senate has passed a bill of $250 billion to counter China's tech and manufacturing.

Now all are selling their bitcoins. The cryptos are under pressure. Yesterday the bitcoin came below $32k.

India has taken vaccination seriously and the govt is taking all steps to procure vaccines and give to all Indians.


  1. The US markets opened flat, fell and then recovered to end in flat. Obviously, the US tech is gaining. We can see that in the tech shares here as well.
  2. Europe was also flat.
  3. Today Asian markets are also flat to negative.
  4. SGX is suggesting a flat opening.
  1. The monthly straddle is in profit with no adjustment
  2. Yesterday in Intraday I was able to make a profit of more than a lakh as I had taken bearish trades in banknifty which did work in my favour.
  3. Trading this market is slightly difficult as vix is falling and markets are moving too much.
  4. I am designing intraday trades and I may move to intraday trading if that works. I am implementing that in small phases. I will be teaching that to my premium group soon.
  5. Today is Wednesday and there will be good decay but usually, Wednesday will be volatile.
  1. FII bought for 1400+cr and DII sold for 1600+cr
  1. Crude is at $72.5. If it moves higher then it is something which should be concerned with.