Trade setup for 23rd July



 Now, this is scary when you are trading. The institution is not buying but the markets rally 200 points !!

Yesterday the FII have sold and nifty rallied 200 points!! Then who the hell bought it? Even DII bought for just 900 odd cr.

This is indeed a retail-driven market. Is the valuation right or are we missing something??

Yesterday it was metals that led the rally along with IT and finance.

Bajaj finance came out with results a day before yesterday and it did not meet the expectation but the stock price is up 5% yesterday. 

Airtel hiked its postpaid tariffs so even that rallied and contributed to the move.

Today we have the zomato listing. I did apply in 3 different accounts but I did to get in any. It looks like it will open with a bang.

Today evening we have Reliance coming out with results and let's see if Reliance has the trigger to break the range of 15600-15900.

Today we have the AGR verdict by the supreme court on recomputation of dues. So keep an eye on Vodafone and Airtel. The verdict is around 10:30

As a trader, it's not my job to guess the market. I react to markets accordingly but I will definitely have a view. But the probability of my view going wrong is very very high. We make WONDERFUL PROFIT if we are right else we make a decent profit which is also good.

MY TRADES

  1. My bajaj finance trade went wrong and I had to close it yesterday with a minor profit. I exited the trade just when the rally started. I am planning to take a trade today on this. I will do a live video on this.
  2. I had a put back spread which I had taken and now I am doing adjustments for that.
  3. This week should be interesting as it is the last week and it will be interesting to see if we can break that range.
  4. I will be doing the strategy which I have updated in the course in all the accounts.
INTERNATIONAL MARKETS

  1. The US markets were positive. The Nasdaq is rallying for 3 days now.
  2. Europe was mixed as FTSE closed in red and other indices closed in green.
  3. Today the Asian markets are flat to negative. 
CRUDE AND $
  1. Crude is now again rising. The reason is demand is strong. One day they say there is no demand. I don't know how sudden demand will come back in 1 day. Whatever that is not our job.
  2. Crude is now at $73 after falling to $68 few days back
  3. $ is at Rs 74.5
FII AND DII
  1. FII have sold on a day where nifty shot 200 points. They sold for 200+cr
  2. DII have bought for around 1000+ cr


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