Trade setup for 02 August

 The markets are trading in the ranges but the movement is very fast. 100+ points intraday movement in nifty has become very common. Whenever nifty thinks of falling, one or the other sector stands up and gives support. 

Today you have the Chinese manufacturing data coming out. So all eyes on that. The Chinese markets are flat for the moment.

The pharma fall did stop on Friday after it fell continuously after Reddy results. The IT sector also supported the markets.

Reliance is again near 2000. It's been trading in that range for some time now. Let's see if that will break 2k and lead the markets down.

Recently, Robert Kiyosaki told that the biggest crash is coming. Not sure what he meant by that. 

The covid cases are rising everywhere. Not sure if this is the 3rd wave of what people were talking about. Even in the US, the cases are rising and it is now termed as a "pandemic of the unvaccinated". So get vaccinated as soon as possible. 

The midcaps have again started to rally. SRF came out with fantastic results and shot up 10%. I have executed a call ratio spread in that. I can't believe that I was just 1 click away from buying this when it was around 2.5k a few months back. 

As per RBI rules, a lot of current accounts has been closed by the banks. RBI has come out with rules for who can have OD, current account depending on the way they have borrowed funds.

NSE came out with a new circular where the quantity of indices that can be traded in 1 trade has been reduced. It's not a major issue as modern terminals do order slicing. 

The auto sales data of July is mixed. 

PV Sindhu won bronze for India. I was expecting gold from her as she had Silver last time. Anyway, a wonderful effort by the girl and first woman to give 2 medals to India. 

Today you have HDFC, RBL, PNB coming with results. Let's see if HDFC will have any impact.


  1.  In my Zerodha Account, I did take a short straddle at 15750. I was already sitting with a profit of 1k. I forgot to close it. Today I will see, if the profit is good then I will close it.
  2. I did the trade-in reddy lab and tata steel which I had told in the previous blog.
  3. Since SRF also shot up. I did the below trade
    1. +1 X 9000ce
    2. -4 X 9400ce
  1. The US markets are worrying about the 2lk new cases that they got and they have raised a red flag.
  2. On Friday, the US markets closed in the red.
  3. Europe as well closed in the red.
  4. Today the Asian markets are in the green. SGX is showing a 100 point gap up
  1. FII sold for 3800+cr and DII bought for close ti 3000cr
  2. FII are selling like anything. They have been selling for sometime now. 
  3. Are they being trapped or do they know something which we do not know?
  1. Crude is at $74
  2. $ is at Rs 74.5