Trade setup for 10th June



 Yesterday the way things moved higher, it looked as if a huge short covering is on the way. But things changed completely overnight.

Day before yesterday when 16400 was broken it looked like there will be more pain and yesterday when the 20 DMA was taken as a support, it looked like there will be a strong recovery. Markets always prove us wrong. 

I am sure many would have taken the bullish trades yesterday as all technicals were suggesting long trades. I did not take them as I did not have margins as they were deployed in yesterday's expiry. Luck plays a very very important role in life. Being at the right place at the right time is also important. Saying that the person who works harder gets luckier.

There is inflation data in the US and the American markets fell drastically ahead of that. Now there is fear that there will be a recession.

Now keep an eye on gold and crude. These will give some indication of whether the money will flow to equities or not.

I thought, there wont be aquisitions, fund raising in the bear market. But IIFL finance, cred has raised funds. But from now you can see less IPO's, merging, aquisition till the market sentiment changes. 

LIC is now down by 25% from its IPO price. I had bought 15 shares when it fell 10%. Now I will be a long-term investor in this. 

In the US, Alibaba fell 8% when the ant group squashed talks of reviewed IPO.

MY TRADES

  1. Yesterday in some of the client accounts I took some bullish trade. Today this will be in slight danger. Will add some legs to do some adjustments.
    1. +1 X 16000pe
    2. -2 X 15800pe
    3. -2 X 15700pe
  2. Today I will be doing the below trade in huge quantity
    1. +1 X 16500ce
    2. -2 X 16600ce
    3. -2 X 16700ce
    4. -2 X 16750ce
  3. Tata steel is almost 1000rs. I will sell 900pe if it goes below 1000 and will take delivery if it becomes ITM
  4. I have sold 270pe in vedaanta. I will take delivery if it goes there.
INTERNATIONAL MARKET
  1. Dow fell 600 points. Nasdaq lost 3%
  2. Europe closed in the red and lost more than 1%
  3. Today the Asian markets are down and out. SGX is suggesting a 250 point gap down
FII AND DII
  1. Nothing has changed here. FII sold for 1500cr and DII bought for only 1600cr
CRUDE AND $
  1. $ is made a new low. It is not almost at Rs 78
  2. Crude is at $122


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