Trade setup for 9th August



 Last week there was a breakout and we did have a volatile week. This week is likely to be a sideways market. Now the best trade which one can take is the short straddle to iron fly. You will be rewarded wonderfully if the markets move slightly up and down.

I have applied for Devyani. If this gets allotted and the stock does not open with a premium, then I am not applying for any more IPO until we have a good correction. Look at cartech. The money raised is not for the company. It's the money that goes to the promoters as they are selling the company to the public.

Maharashtra is unlocking slowly. The locals will resume in Mumbai which is good news as local is the lifeline for many people in Mumbai. Even restaurants and pubs have also been given some relaxation. 

Now the crude is also falling which is good news. FII is buying. The global cues look good. So not many reasons for the markets to fall more.

Saudi Aramco gained 300% in profit as world crude consumption return to its pre covid levels.

The Tokyo Olympics have come to an end and it was a good performance by Indian athletes. I was expecting at least 2-3 gold. I had hopes on Sindhu. Anyway, it was a good performance.

Gold is also falling as the equity market fears are reduced and now money is moving from safe havens like precious metals to equity. 

MY TRADES

  1. I had a huge quantity of PE sold in the monthly expiry when 16k was crossed. I am today planning to convert that to short strangle by selling some deep OTM in the CE
  2. I see a breakout in the Adani stocks and I am planning to take a trade in Adani ent. I also mentioned about this in the yesterday's stock market week ahead program.
    1. -1 X 1400pe
    2. +1 X 1300pe
  3. I am planning to take a short straddle in the banknifty today.
INTERNATIONAL MARKETS
  1. Most of the world markets are flat to positive. Even SGX is suggesting a flat opening.
CRUDE AND $
  1. Crude is now below $70 which is a very good news for India. Many analysts told that crude will goto 80, 90, 100 etc. 
  2. $ is at Rs 74
FII AND DII
  1. FII sold for 60cr on Friday and DII sold for 600+cr

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