Trade setup for 12th September



 Now markets are on steroids. But I feel that 18k may not be taken out so easily. It can be slightly jittery at this place. If 18k is taken out on a closing basis then ATH can happen very soon. Banknifty is just around 1500 away from ATH. I am not so bullish right now because the US markets are way behind ATH, but we are close to ATH. 

Now short straddle or ironfly will be a beautiful strategy.

Finally, the Asia cup is over and Pak did not win. Yesterday at one point it looked like it was a cakewalk for Pak but Lanka bounced back strongly and took it away.

It looks like now gambling is gaining more tration. Google play store will now allow these fantasy sports apps to be listed there.

The war in the Ukrainian region is still going on. But the intensity has gone down drastically or the media has stopped paying attention to that news.

Queen Elizabeth's funeral to be done today and many world leaders will be attending it.

For this week, the range of nifty is likely to be 18k to 17400. Now banks may take a slight back seat. It is time for IT's to begin their rally now.

On Friday, the US markets shot up almost 400 points on dow and almost 2% on Nasdaq. This move came almost after our markets closed, but you can see that our SGX did not make any strong move. So it clearly is telling that we have already made the move and its not US markets to rally.

Now all eyes are on US CPI data which is coming tomorrow and then the FED which will happen next week. Till then markets could be sideways and then there can be a breakout depending on the outcome.

MY TRADES

  • Today I will be selling some deep OTM strangles 
    • -1 X 17200,300pe
    • -1 X 18200,300ce
  • I will be selling some short straddles
    • -1 X 17800ce
    • -1 X 17800pe
  • I will be selling some deep OTM pe of  bajaj finance, HDFC bk, icici bank
INTERNATIONAL MARKETS
  1. US closed in deep green on Friday. Dow gained almost 400 points and nasdaq gained more than 2%
  2. Europe closed in green as well.
  3. Today the Asian markets are in the flat to green. SGX is flat.
FII AND DII
  1. FII bought for 2000+cr and DII sold for 1000+cr
CRUDE AND $
  1. Crude is now at $92
  2. $ is below Rs 80

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