- US markets hit all time highs Yesterday but then Drama Happened in last hour.
- Dow Jones was up 450 Points all day closed at a Flat Terrain .
- Big sell off was Witnessed in second half.
- Asian Markets are Mindly Negative.
- SGX Nifty is Trading near 10750.
- I am Expecting a short term Correction now.
- A correction of 100-300 Points on Nifty & 1000 Points on Bank Nifty.
- Bank Nifty Support is near 22000-21900 and that is likely to be taken out today.
- The Reason for a bit Bearishness is that the Market is looking very streched on the upside.
- Yesterday only because of Reliance the Markets were settled.
- Reliance has more than doubled and cannot keep giving Support always.
- A handful of Stocks supporting Nifty is not a good sign.
- I have sold call option Yesterday 11000 , 11050 ,11100 CE.
- Also sold 10500 & 10450 PE.
- Sold 23000 CE for Bank Nifty.
- Many people ask me to update prices of my Trades as well.
- Updating prices not Possible as I keep Averaging and keep exiting them according to Markets.
- Might not hold till Expiry.
- Yesterday as well Nifty failed to cross it's 200 DMA of 10900.
- So a good Trade now is to sell on rallies.
- Remember im not Expecting a crash or so but just a small correction now in the Markets.
- We are in a Bull Market and small corrections make the Markets Stronger in long run.
- Stoploss for your short Trades should be around 10900 for Nifty.
- Try to sell near 10900 to minimise your risk if you get to this level.
- Best thing is to write Call Options.
- Don't sell Naked always have a Hedge as it also reduces margin.
- Buying Put options again might not work because even if Markets are Rangebound puts premium decrease.
- By selling calls , even if Markets go down or dont go that level I make money.
- By buying Puts you make money only if it goes lower.
- Bank Nifty looking very Weak and Nifty is not getting major Support from anywhere.
- India VIX was higher Yesterday which again shows that the Markets might start it's Volatility again.
- Reliance AGM is also going to be held Tomorrow and it looks poised for a good correction is short term.
- FIIs were net Buyers Yesterday but DII's were net sellers.
- Nifty might Trade between 10700 to 10860 today.
- stockmarketadvisory.in
1. U.S Markets closed lower on Friday. 2. Dow Jones was flat. 3. Nasdaq was the underperformer. 4. Gift Nifty is down 30-40 Points. 5. Asian markets are mostly lower as well. 6. Friday the Nifty opened with a gap down of 200 points. 7. Within the next 10 minutes , Nifty recovered 100 points. 8. Bulls expected recovery is on the cards but Nifty started to Crack. 9. Bank Nifty was holding up Nifty for most of the while. 10. It couldn't be able to provide much of a support and Bank nifty also began to correct. 11. The issue now is market has had vertical rallies. 12. One way quick rallies so now the downfall will also be vertical. 13. When markets go up quick , they come down quicker. 14. Infy dragged the mood and also HUL didn't post extraordinary results so it was also a laggard. 15. Banks tried hard to hold the markets but couldn't. 16. Over the weekend , AU Bank and icici bank reported very good numbers. 17. These banks have already rallied a lot before results
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