Trade setup for 15th July



 Infosys came out with its numbers and it looks like its a good number but we need to see how markets will react to that. The infy ADR opened with a 3% higher but closed with only 1.5% higher. The aftermarket rates are in red. So you can expect a flat to -ve opening for infy here. 

I was expecting infy to lead the IT today and take the markets to 15900 but looks like that may not happen.

Markets are in the range-bound. The range is 15600-15900. It's just playing ping pong. I am very happy as it gives more conviction to go with the trend when this range is broken. I want this range to continue for this entire month. 

Today we have Wipro results. IT has already rallied and Wipro has also rallied. Will the results give more push to the stock?

Jerome Powell told that if inflation continues to rise then the FED will be taking appropriate actions. He somehow indicated that inflation fear is not something that can be ignored. He told that he is not eager to tighten the money via policies. The bond yeilds fell. So the US markets opened in the green but closed flat. Nasdaq closed in the red. Today morning the US futures are in red.

The hot news is the Zomato IPO. I am applying for that IPO. It's overvalued but overvalued does not mean it cannot be more overvalued.

China GDP data is at 7.9%. So today morning the Asian markets are in the green.

MY TRADES

  1. Yesterday when mindtree shot up 8%, I executed the below trade
    1. -1 X 2700ce
    2. -1 X 2700pe
  2. In my Zerodha account, I closed all the trades as I had done a mistaken trade. Luckily, it was a no loss no profit trade. Will take care not to do these in the future. 
  3. Today is expiry and most of my trades are in pretty good shape unless some violent move happens today.
  4. Today if wipro shoots up more then 5% then I will sell deep OTM calls
INTERNATIONAL MARKETS
  1. The US markets were flat.
  2. Europe closed in the red.
  3. The Asian markets are mixed. Hongkong is in green but Japan in red. SGX is flat.
FII AND DII
  1. Yesterday the FII have sold more than 1300+ cr and DII have bought for 1300+cr
  2. FII selling is not good. 
EXPIRY SETUP
  1. Seeing OI, 15900 may not be crossed today. We stick to the trend and hope the ping pong continues. So I will execute 15900 straddle at opening.
  2. Banknifty may have a movement of + or - 400points.
  3. I will be taking directional trend on banknifty. There is a cup and handle pattern. Lets see if that happens today. Then I may go long in banknifty where I will be selling PE agressively








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