Trade setup for 6th July



 Yesterday, I woke up late so could not come out with a blog. 

The markets have again made an attempt to break the upper end of the range which is 15900. It has been some time that is playing ping-pong in this range. I am expecting it to break the lower range this time. Now we have the earning season beginning soon and we may see some triggers there. Crude is slowly inching higher. 

The OPEC+ meet did hot happen as expected due to Saudi and UAE. So we can expect the crude to rise higher. Petrol is rising everyday here in India. Even in Delhi, it clocked 100. Bringing the petrol and diesel to GST?? Will that solve?? Not sure if the govt is evaluating that.

Yesterday there was a trade in nifty futures where nifty futures were traded at 700 points higher than current price. Someone would have put a market order and he is killed. So the moral of the incident is never ever put market orders. Forget that there is something called market orders. Always play with limit. 

There are many who asked me why it is not showing on charts. Pls read this wonderful article of nitin kamath
https://tradingqna.com/t/why-are-the-ohlc-values-on-daily-and-hourly-charts-different/17495/2 You can see that in daily chart that spike is seen.

Now everyone is betting on the unlock trade. Airlines are allowed to operate at 65%. There is still no relief for multiplex in many cities. But things are slowly opening and hope is that there wont be any 3rd wave.

The metals and back as the demand is increasing. Most of the metal stocks were higher yesterday.

Zomato IPO got cleared from SEBI. So Naukri group will be in focus. Zomato now has $10 billion valuation. 

MY TRADES

  1. I had taken a huge short trade for this week and this month. Now I am doing adjustments to them. The positions are still in control. It may go out of control if 16000 is taken out. Till then I can handle the pressure.
  2. Yesterday I sold some of my equity positions which were in profit. I have been doing this for some time now and I have sold some puts. Will be taking delivery if it comes to that level.
  3. We have TCS results in some days. I am planning for an earning trade today or tomorrow. I will do a live youtube trade in some time.
INTERNATIONAL MAREKTS
  1. Yesterday the US was closed as a holiday
  2. Europe was in green 
  3. Today the Asian markets are in the green. SGX is suggesting a flat to a negative start. 
CRUDE AND $
  1. Now crude is at $77+. The OPEC talk failed and it may rise higher
  2. $ is around Rs 74
FII AND DII
  1. FII sold for 300+cr and DII bought for 650cr



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