- U.S Markets closed 3% lower on Friday.
- Asian Markets are Mixed with a Slight Negative Bias.
- SGX Nifty is down 60 Points and Trading near 10270 as of now.
- Reason for a big Fall in U.S Markets was because the FED placed restrictions on buy back for U.S Companies.
- All the Banks fell in U.S Markets.
- Nifty Futures & Bank Nifty Futures are Trading at Big Discounts which Indicates big short positions been created.
- Markets are highly Volatile and Trading with naked options is a suicide in this kind of Market.
- Important Data to look at this Thursday is the U.S Jobs Data.
- FII's were net sellers on Friday and DII's were net Buyers.
- FII's have big Short Positions in Stocks , more than 70% short Positions but have 41% Long Positions in Indices.
- Given an ITC Earnings Trade on my WhatsApp and holding it till now.
- ITC results were average and not that Great.
- Let's see how the Stock performs today.
- 10,000 is going to be a strong support on Nifty and 10500 a strong Resistance.
- Unless and until any Fresh triggers or news is announced Expecting Markets to trade within this Range for this Expiry.
- Have Initiated a Bear Put Spread and Bearish Ratio Spread on Friday.
- Bought 10300 PE & Sold 10200 PE.
- Bought 10200 PE , Sold 10000 PE & 9850 PE.
- All Weekly Expiry.
- Even if the Market goes higher there is nothing to Worry as I won't lose even a Single rupee.
- But if Markets go lower then my profitability starts.
- Banking Stocks might Underperform here also.
- Our Markets are now following Global Markets.
- We are just doing Photo copies and Xerox copies of U.S Markets here in our Markets.
- Nifty might Trade between 10180 to 10376 today.
- Bank Nifty might Underperform Nifty and in turn create pressure on Nifty.
- IT Stocks Rallied on Friday.
- They have been Underperforming whole of June so this was not surprising.
- 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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