- US markets closed on a Flat Note Yesterday.
- Asian markets are mostly Negative.
- SGX Nifty is trading near 9140. Down almost 80 Points as of now.
- Yesterday our Markets have tested the higher range band of 9450 and today we are likely to test the lower band of the Range ie ,9100.
- Will be Interesting to see if we hold on to the lower range of 9100 today.
- Bank Nifty Punctured the Nifty rally Yesterday. It is highly Underperforming Compared to Nifty.
- ICICI Bank closed 6% lower Yesterday which led to high Underperformance in Bank Nifty.
- China have reported several fresh new cases of Corona Virus.
- While there is Optimism related to Economic STIMULUS , easing of Lockdown etc but the fear is relating to the second Wave of spreading of Corona Virus.
- Detailed Analysis of FII & DII Data Below:
- Auto Sector & Reliance were the star of the Show Yesterday.
- Maruti is commencing it's Manufacturing activities with 50% Capacity
- Reliance features in Top 5 Companies in the World that has given maximum returns since the Lows of May 2020.
- Yesterday a meeting was Chaired between Prime Minister & State Chief Ministers regarding the Lockdown.
- Most of the State Ministers have Requested for an Extension of Lockdown.
- Since the Beginning of May Month , Nifty has been Trading within a Range of 9100 to 9450.
- Expecting this Range to continue for few more Trading Sessions.
- If 9100 gets taken out then the Next Support is around the levels of 9000 for Nifty.
- Sold 8700 PE , 8750 PE , 8800 PE.
- Sold 9600 CE , 9650 CE , 9700 CE.
- All my Trades are of Weekly Options.
- I maintain my View that Nifty might not breach the levels of 9000 this Expiry.
- Traders who are Expecting Breakouts , Breakdowns are getting Trapped in this kind of Market.
- This Market is not a chasing Market.
- Do not Pre assume that we will have a Breakout / Breakdown way before in your mind.
- This will trap you on the either side of the Range. Trade what Appears on your Trading Screen.
- This Market is a Market which is Favouring Risk - Reward brilliantly.
- So Taking Contra Bets near the Boundaries is the way ahead & if Breakdown / Breakout happen be Ready to turn your Positions.
- Bank Nifty will continue to Underperform the Nifty.
- Financials are in a severe Bear Market & they Remain to trade lower.
- Recommended SBI & Bajaj Finance for Shorting Opportunities few days before in a Blog and both are Trading near their 52 Weeks Lows CONSISTANTLY.
- stockmarketadvisory.in
U.S Markets closed higher yesterday. Most importantly , S&P 500 VIX crashed 10%. There was huge Volatility in global markets due to Fed event. Markets remain volatile only when they have topped out or have bottomed out. Right now I feel we have bottomed out at 16850. Asian markets are slightly lower now. Dow futures are lower. SGX Nifty is at 17500. Finally , the most awaited day has come. Budget 2022 is going to be presented today. Expectations are of a good and stable budget. Reasons are the Elections coming up and LIC IPO in March. Govt very well knows if LIC IPO has to go through , Market sentiment has to be good. Without good market spending it would be very difficult for IPO to go through. Market had already fallen a lot before the budget. Although we have rallied in last 2 days but still we have some upside left. Though I feel it's not favourable to chase today's gap up. Today's gap up is a good opportunity to book profits those who carried longs. Bud
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