Trade setup for 31st August

 Today is the last day for the intraday margins. SEBI is in no mood to go back. As I told you before, there is no point in crying in front of the wall. Better you find a way and adapt to the new way of life. Still there are a lot of people who are feeling that by running hashtags, not trading for one day etc, they will bring down SEBI to their knees. Dont waste your time in all that. SEBI doesn't care.

Coming to markets, yesterday we had a massive run and nifty gained 200+points. I did not expect this as the global markets were silent and we were the only one who was rallying. I had to do some adjustments to the weekly positions which I carried. We did close at the high point of the day and also made an all time high.

In the evening, Airtel CEO had a press conference where he talked about the rights issue and told that the tariff may rise. This took airtel higher. 

The INR improved over USD yesterday and that was one of the main reason for the market rally.

The mojo in bajaj twins still continue. Yesterday, bajaj finance shot 200 rs.

Metals and reliance also contributed to the rally. Banknifty was back and it shot up 700 points. As I told before, shorting banknifty was a bad idea. So I took some short positions in monthly options in nifty which was also a bad idea. I will start adjusting if 17k is taken out.

IT was in a negative as it had rallied a lot in the previous rally.

Today we have the GDP data. 

The Chinese PMI data which came was as expected. 

The semiconductor cruch is forcing automobiles to scale down production. 

There is a new variant of Corona virus which is found in South Africa which scientists are telling is more dangerous. 

The US has completely evacuated Afghanistan and the final flight has left Afghanistan. 

The new Apple phones will be able to use satellite directly. These are some of the crazy things that Apple does. 


  1. In my Zerodha account, I sold 17000ce and now it's in a minor loss. Let's see if any adjustment is needed for this.
  2. I did not do any intraday trades yesterday as I had carried position from Friday. Now I am doing adjustments for that. Nowadays positional trading is not worth it. I will do only intraday from the next expiry. I am working on a system for intraday using 9:20 straddles. Let's see how it goes.
  3. I had sold 8000ce bajajfinace and thought it was safe. Yesterday in 1 day it has moved 200 points. Let's see how it moves in the coming days.
  1. Nasdaq made another record close. The dow was flat however.
  2. European markets were flat.
  3. Today the Asian markets are in red. SGX is suggesting a 35 point downtick. Lets see if this dip will be bought or sold into after a massive rally yesterday.
  1. Finally, FII is buying and now markets are in the red today. Looks funny.
  2. Yetsrday FII bought for 1200cr and DII bought for 700cr
  1. Crude is at $73
  2. $ is at Rs 73.26