Trade setup for 27th July



The Chinese markets are beaten left and right because of their crackdown on tutoring apps. So you can see that the Hangseng, Shanghai, Shenzhen composite are all down yesterday by more than 3%. But the other world markets did not react so badly. So it is just limited to China. 

Tesla came out with numbers and it was wonderful the way they have grown. It reported $1B in income which was 10 times from last year. Obviously, tesla shot up and the US markets were higher. Cryptos were no exception. They are Elon musks favourite and even they shot up.

In India, we had Tata motors that came out with numbers and seem to have disappointed again. They reported loss and have put the blame on the chip shortages. So today there might be some volatile movement in this stock. 

Axis and L&T came out with numbers and even they have missed the estimates.

Now all are waiting for the US Fed meeting which will start today. 

The floods in the coastal areas of Maharashtra, Goa, Karnataka are creating havoc. 

Finally, Vijay Mallya has been declared bankrupt by the London court.

Bitcoin is again back to $40k after its recent fall. 

MY TRADES

  1. The Mindtree short straddle which I had taken 10 days back was in a wonderful profit of more than 10%. I closed that yesterday.
  2. I had sold some PE in tata motors thinking of taking delivery. I expected that auto numbers would be bad so I closed it yesterday with a decent profit. As expected, the numbers were bad yesterday. Let's see, today if it falls more than 3-4%. I will sell another PE for august.
  3. I had taken 15800 short straddles for this week in my Zerodha account and that is in profit and that may improve today if markets are flat.
INTERNATIONAL MARKETS
  1. The US markets closed in the green. Again the Nasdaq and s&p made a record close.
  2. Europe closed in the flat terrain.
  3. Today morning the sgx is in green and the Asian markets are also in the mild green.
CRUDE AND $
  1. Crude is at $73
  2. $ is at Rs 74
FII AND DII
  1. This is now increasing day by day. FII are selling with high volumes.
  2. FII sold 2300+cr and DII sold for 1500+cr


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