Trade setup for 26th July



 Markets are very volatile these days but vix is at the lowest point. Today will be an important day for trade. Will the ping pong continue or will we break the range of 15600-900 very soon. I am expecting this ping pong to continue for this expiry and then we may get a breakout or breakdown in the next expiry. 

The international markets are mixed. Japan is up more than a parent and hangseng is down more than a percent.

China is trying to put an end to tutoring apps as well. After Alibaba, Didi, and now tutoring apps. Not sure if that is a good move or a bad move.

In the US, this week we have a huge number of tech companies coming out with earnings. So the tech behaviour there might be replicated here as well.

 The delta variant is spreading. Slowly, the stock markets are forgetting that and this may become redundant if vaccinations rise.

Today we are going to factor the results of icici, reliance and ITC. We will be getting more results today. We have axis, kotak, L&T, vedanta coming out with results. I am keeping an eye on ITC if it can break 217 as it is in this range for a long time. A lot of ace investors like RK damani etc have invested heavily in ITC. So the probability of it falling below 200 is less. 

The cryptos are on fire. Bitcoin is up 12%. Did Elon musk say something?

Tomorrow you will have a fed meeting which will begin . So that can be an event which all will be tracking. 

MY TRADES

  1. I thought of doing a live trade on ITC if it shoots today due to results. It looks like that may not happen as results did not meet expectations and the markets are also down as per SGX. The global markets are also down. As per the charts there is a break in the trend. I will need more confirmation to take a trade aggressively on this.
  2. In my zerodha account. I had taken a 15800 short straddle which is in profit. I did share it to my students on telegram. Today the profit might increase.
  3. This week I will keep the volumes low as this is the last week of the expiry and you will have volatile moves.
INTERNATIONAL MARKETS
  1. Dow futures are in red. 
  2. Europe futures are in the red.
  3. Asian markets are also in the red except japan. SGX is suggesting a 100 point gapdown.
CRUDE AND $
  1. Crude is at $73.8
  2. $ is at Rs 74
FII AND DII
  1. FII sold for 163cr and DII bought for 2000+ on friday.



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