Following trade ideas were suggested to our subscribers for 16 June 2020:
- We went short in S&P500 at 3135 and covered 50% at 3080.
- Again, went short in S&P500 at 3119
- Went short in Nifty @ 10020 and covered at 9710
- Again went short in Nifty at 9900
In the previous session, S&P500 made a low of 2923.75 and recovered with closing at 3062. For today, market may remain positive. At higher level, selling pressure will be observed. From Wednesday, market will again trade downward. ……………………… (Details: ONLY FOR MEMBERS)
Our original short position was built at 3215 (which was covered around 2950)
Indian Stock Market
Indian market will have gap up opening. Today’s closing may be positive. From Wednesday, market will resume downtrend.
Intraday perspective: Market shall continue to be positive till 11.15 HRS. From 11.15 to 13.30 HRS, downtrend is possible. From 13.30 to 15.15 HRS, it’ll recover. At today’s closing, you can build shorts.
Positional traders can buy put options in Nifty (Strike 9500/ July-end) and Bank Nifty (Strike 19500/ July-end).