Trade setup for 20th June



 Today is a US holiday so there won't be much from the international market front. Other countries are working but when US sleeps, the world sleeps. When the US sneezes, the world catches a cold.

Now all major events are over. So can we expect some stability in the next 2 weeks? 

The talk of the town is cryptos. They are all falling heavily. $20k was considered as support for bitcoin but over the weekend it went to 17500 and has now bounced back to 20k. In 2017-2018, I had traded a small quantity of bitcoin when its valus was 8lak inr. Today it is at the same point. People were telling that it will be 1cr when it was close to 45lak. 

Elon musk tweeted that he is planning to buy some dogecoin and this changed the sentiment of the cryptos and it shot up little yesterday.

On Friday, the markets were very volatile. Nifty has moved 100 point in many 5 minutes candles. Is that a sign of consolidation?

I got at least 25 calls over the weekend asking me what to do with the portfolio which is in red. Most of them are people who entered when there was 2020 crash. My suggestion is if these are tough and turbulent times. Don't sell if you are in loss. Sell only if you need money. As I told you before, SWP(systematic withdrawal plan) is underrated and SIP is overrated. My portfolio is very small now compared to what it was 2 years back. I will be doing SIP now. So learn about this and make sure you withdraw from stock market in the future. 

Today's trading will be intersting. If markets close in the green then you can expect some short covering in the next 2 weeks. If it closes in green then the recent low will be a strong support. So one can consider selling PE below that.

Vodafone(parent company) is investing Rs 500 cr in India's arm. I had bought a small quatity of vodafone few years back for 10rs. It is still around that price even after a massive bull and a bear run. Lets hope that its time will come soon.

Vijay shekar sharma has bought huge quantity of paytm shares from the market. He sold it in IPO for 2000+ and now bought a good chunk at 700 odd. Retailers are butchered.

MY TRADES

  1. I had to close some of my trades in the minor loss. I am still having positions that are at loss. From today I will be doing adjustments to protect them
  2. Over the weekend, I was able to complete the algo which I was working on. There is some finetuning required and then it will be ready for deployment. Till then I am doing it manually in my individual account. The ROI is good till now and backtesting results are also promising.
  3. Today if nifty goes to green then I will execute the below trade
    1. +1 X 15000pe
    2. -1X 14800pe
    3. -1X14700pe
    4. -1 X 14600pe
INTERNATIONAL MARKETS
  1. Nasdaq closed in the green on Friday and Dow was flat. Today there is a holiday and the futures are in mild red.
  2. Today the Asian markets are also in the red.
  3. SGX is down by 50 points.
  4. SKorea down by 2%
  5. China keeps benchmark lending rates unchanged.
CRUDE AND $
  1. Crude is falling which should be good for India. It is now at $112.5
  2. $ is above Rs 78 which is worrying. It means that FII which is selling in Indian markets are taking back money to their country which is not a good sign.
FII AND DII
  1. FII sold for 7800k cr on Friday. This is the highest which I have seen in recent times in one day.
  2. DII bought for only 6k cr

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