Trade setup for 23rd September



 Yesterday we had the US fed meet and as expected, the US fed did not touch the interest rates and told that the bond tapering is coming soon. They did not give the exact time though.

Today the hongkong markets jumped 2% and the Evergrand stock jumped 25%. Although it is 80% down from the year to date. This is because the chairman of the company told the their main job now is to protect the investor interests. Today they have to pay their debt. The chairman speech suggests that they might pay. 

Yesterday the markets were flat but banks were weak. Banknifty fell close to 300 points. 

ZeeL shot up 30% after the news that it will be merged with Sony. The rally might continue for this month also depending on how the merging will shape out. The merged entity will be the largest player in India.

Global Vodafone, Birlas, Grasim told that they will not invest more equity to the Vodafone-Idea. So the stock price fell yesterday and the chairman told that they will be here and will grow. So today that might rally higher. 

The IT space looks interesting. Mindtree and TechM is rallying like they have found a gold mine. But IT is not the sector to short. Look for buying opportunities when there is a dip.

Now people above 65 will get another covid booster shot in the US. FDA has approved the pfizer booster shot. We need to see if any such thing will be done in India. 

MY TRADES

  1. Not carrying much for today's expiry as we had a event. Most of my trades are in the monthly expiry.
  2. Today more strikes of Zeel will be opened and I am planning to execute a ratio spreads.
  3. I have sold a lot of stock option PE. I will continue to do that for few more months.
  4. I am doing a combination of futures and options trade for intraday. I am just testing that with 1-2 lot. So I will continue to do that today as well
INTERNATIONAL MARKETS
  1. The US markets liked the FED outcome and they rallied. Dow gained 300+ points and nasdaq gained a percent.
  2. Europe closed n the green.
  3. Today the Asian markets are in the green. SGX is showing a gap up.
CRUDE AND $
  1. crude is rallying and is above $76. 
  2. $ is at Rs 74
EXPIRY TRADE SETUP
  1. SGX is suggesting a 100 point gap up. The markets may not go beyond 17700. So any strikes above that can be sold to pocket the premium.
  2. If 17700 is crossed then one can sell 17600,17650pe as adjustment measures. 
  3. We need to see if banks rally today. If banks rally then it may not come down. So sell PE which is 500 points below the opening price.


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