Trade setup for 13th August



I missed writing the blog yesterday and I forgot to tell you that as well. Sorry for that. 

Yesterday was a smooth day. There were no major knee jerk reactions in the market. Most of the traders made good money. But, I had some positions which I had taken positionally. So did not play aggressively.

Nifty is at its ATH. The more the people are giving caution, the more the nifty is rallying. The earning season is over and it looks like it was a good earning season. There were some misses and some good earnings but overall the market did not fall at all for the earning.

The US job data came and the number was good and the US markets which opened in the red, moved to green. The major reason was that the Disney came out with results and it was in profit. The sentiment is that the parks are opening and slowly everything will be normal.

It looks like we will hit 16500 very soon. I am keeping an eye on banknifty as it has still not made an all-time high. As I told before, it is very close to that number and may happen anytime this month.

Hero moto came out with results and it was amazing. They made a profit of 6times from last quarter as last quarter was a washout due to lockdowns.

Now Kabul is in talks with the Taliban to share power. India and other countries have asked their citizens to return back.

Yesterday, FM had a meet at the CII conference and asked corporate to take risks and take the bulls by the horns. That's a sentiment positive for the markets and the markets seem to appreciate that.

ITC is planning to invest $2billion in the next leg of growth. But stock does not seem to make much movement. I thought a breakout might have happened by seeing the charts sometime back, but that was not the case. It is just moving around 200. 

MY TRADES

  1. I have slightly tweaked my trading technique. Let's see if that works in my favour. From now, I will be trying some intraday strategies as option premiums are not good for positional trades.
  2. Now I will be using technical analysis to judge the direction of the market and will be taking directional trades with hedges. I feel that non directional strategies is difficult to implement as it is challenging your breakevens.
  3. The best strategy which has been working for me is the double butterfly. Today I will be executing that in good volumes for positional. This is the only strategy which is protecting me from last few weeks.
  4. The Adani ent trade which I took is now flat. It was in loss. I added some adjustment trade and now it is flat.
  5. The bajaj finance and SRF trades are in very good profit. I am planning to close them in this week as most of the juice would be over in this.
INTERNATIONAL MARKETS
  1. Dow opened in red but managed to close in the flat zone. Thanks to the job data.
  2. Europe was also flat. Nothing much worth mentioning there as well.
  3. Today the Asian markets are in the red. But SGX is flat. Lets see how we will take it from there.
FII AND DII
  1. FII sold for 200cr and DII bought for 300cr
CRUDE AND $
  1. Crude is at $71
  2. $ is at Rs 74


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