Trade setup for 19th July

 Yesterday I had put a tweet that I am not comfortable in seeing banknifty rally and USDINR making new highs. I had taken short position in banknifty yesterday as I told. Today SGX is suggesting a gap down. It's not only magic that works in the stock market, sometimes, even logic works in stock market. :)

Now we are in the earning season in India and the US. The earnings of big companies are deciding the sentiment of the market. As I always say, don't guess the stock movement after the earning. It's practically impossible to guess how it behaves after the numbers are out. Take a small bet with a view. If it works then book profit and tap your back. Close the trade immediately if it fails.

Today USDINR may open above Rs 80 which is new high for this. This is definitely bad. 

Now tech space is in bad shape. Yesterday the US markets were higher and then IBM came out with numbers and told that the hiring will reduce. Apple also gave a commentary that even they will reduce hiring. As soon as this came, tech stocks were beaten and dow closed in the red.

The west is planning to impose a cap on Russian oil. So some experts are saying that the crude may go up to $140. So there is some jittery in that as well.

Today you have HUL results. Lets see what is in store for that.

There was a freak trade in nifty and banknifty yesterday at the beginning where nifty high was more than 16500. Not sue who that luck and unlucky guys were. 


  1. Yesterday I did algo trade and got around 0.4% profit. 
  2. I am carrying shorts in banknifty. Today when the time is right, I will exit and close the trade.
  3. For this week, I will be executing the below trade
    1. +1 X 16400ce
    2. -5 X 16500ce
  1. US markets had a good opening but gave all the gains and closed in the red.
  2. Today the Asian markets are in the red. 
  3. Hongkong down more than 1%. SGX is suggesting a -ve opening.
  1. Crude is at $106
  2. $ is at Rs 80. Today we need to see if it closed above 80.
  1. FII bought for 156cr and DII bought for 850cr