Trade setup for 5th August



 Yesterday was another massive rally day. The major gainers were banks. It looks like the banknifty rally has begun and very soon we can expect an all-time high in this index which was pending for some time. Now, 16k is very strong support. I don't think that will be broken anytime soon. From now on all the dips should be used for buying. 

Now the index management is happening. You can see that the midcaps were in red, the nifty junior was in red but it was nifty and banknifty which was in dark green. So there is huge money chasing the large caps. So obviously it will be in HDFC, bajaj twins, icic, reliance etc.

Kumar mangalam birla resigns from the Vodafone board. Yesterday it was down. Today also it will be down. Let's see whether it will be only 2 companies in telecom or will there be anything that will be done to revive Vodafone or will it be merged with govt entities.

SBI came out with splendid results and that also boosted banknifty. Their quarterly profit was the best since 2008.

The US jobs data came and there were fewer jobs added due to covid last month. The Dow fell initially and then recovered slightly in the second half and the dow future is in green for now.

The Robinhood which opened negative in IPO has now rallied 50% in 1 day yesterday. It shows how crazy money is flowing into all kinds of companies in the bull market.

The GM results were out and it did not meet expectations and the stock was down.

MY TRADES

  1. This week nothing seems to be working in my favour. I expected markets to fall but it shot up. In my mind, nifty is still 75 in lot size. On Friday when I took the trade, I took it correctly, but while adjusting, I forgot this and took trades thinking nifty is 75 and realised it very late. Yesterday my iifl terminal did not work else I could have reduced the loss substantially. 
  2. In monthly series,I have done the below trade and I have done huge volumes
    1. +1 x 16000pe
    2. -1 x 15900pe
    3. -1 x 15800pe
    4. -1 x 15700pe
  3. In banknifty I have done the below trade. I did this since I have a call ratio spread. So this was the adjustment and I have done this in huge volumes. So I have a big room left still.
    1. -1 X 35000pe
    2. -1 X 34800pe
    3. -1 X 34600pe
INTERNATIONAL MARKETS
  1. The dow closed in the red. 
  2. Europe closed in the green.
  3. Today the Asian markets are in the mild green and SGX is suggesting a +ve start.
FII AND DII
  1. Big boys are back and FII bought for 2500 odd cr and in 2 days they have pumped 5kcr
EXPIRY SETUP
  1. 16300 may not be breached today as the global markets are flat and the US markets fell yesterday. 
  2. Banknifty may range in + or - 400 points today as there was a huge rally yesterday
  3. I will be doing iron condor for this expiry


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