Trade setup for 29th July

 Markets are very volatile. Blame it on the SEBI margins or China impact. The fact is the movement that we are seeing is definitely not how markets should be moving when vix is around 13. 

Yesterday we had the US fed meet and the FED has kept the rates near 0 and has told that the economy is improved even with pandemics. There was no major movement in the US markets. So it was more of a non-event.

The China markets have recovered. The Hong Kong markets recovered almost half of what it lost in the last 2 days after Chinese regulators told that they will still allow IPO in the US markets.

The tech stocks were shining yesterday as FB came out with numbers and it was good. All tech results have beaten the market estimates. Nasdaq was in green.

Coming to our markets, the ping pong continues. Yesterday I thought we did have a breakdown. But second-half recovery took markets to almost to the flat territory.

Maruti came out with numbers and it was below estimates.

Rakesh Jhunjhunwala is planing for an airlines venture. 

Bitcoin is again below $40k

PV Sindhu is advancing in the Olympics. The hopes are increasing day by day. We wish her all the best.


  1. I had to close a lot of my positions in loss yesterday as markets fell drastically.
  2. I am planning to trade Dr reddy and tata stell today.
  3. I will be selling deep OTM PE where I can make 10% of the premiums in dr reddy. If it falls then I will take delivery.
  4. I will be selling deep OTM CE in tata steel and collect 10% premium. Will manage it if it rises significantly.
  1. US was mixed as dow was in red and nasdaq was in green.
  2. Europe was in green.
  3. Today the Asian markets are in the green. SGX is positive.
  1. FII sold for 2274cr and DII bought for 921cr
  1. 15800 may not be crossed in the upside. 
  2. banknifty may range from 34k to 35k
  3. I don't think markets will be volatile. I am planing to execute a short straddle at atm.