Trading Sep Futures with a Long bias based on the thesis:
US DJ, S&P rally seems to be peaking on its post-COVID rally.
ECO data out from the US generally seems strong as well.
Believe that international indices like NIFTY and STOXX will follow-suit.
Risk: Most of the rally has been done, hence watch for range trading from now till Sep.
Given that the S&P has already reached close to its pre-crisis highs, I believe that the NIFTY will follow suit.
Investors will be increasingly looking for other opportunities to "chase the rally" in the US and this is a good proxy
To add monthly contracts on low points on the main trend and to cut losses if it breaks down of the trend.
