- US markets were down about 0.7% Yesterday.
- But Asian Markets are Trading higher.
- SGX Nifty is up 20 Points & Trading near 11320 now in Spite of U.S Markets falling.
- Indian Markets are going through a phase of Outperformance.
- We are Outperforming Global Markets.
- Yesterdays price Action in first half was evident that Nifty was not willing to go down.
- Bank Nifty also joined the Party and gave a good short covering in 2nd half.
- Without Bank Nifty support Nifty is going higher.
- If Banks join in we can witness new highs on Nifty.
- Now the upper level for Nifty is around 11350-11400.
- Expecting Markets to be Consolidating in first half but second half can be highly Volatile.
- Wednesdays most of the times Markets are highly Volatile.
- So better to keep booking profits as you get instead of holding positions till Expiry.
- Markets will always give you a chance to re enter.
- I sold Nifty put options Yesterday but covered most of them Intraday.
- Sold lot of Puts on Reliance as well.
- Will Square them off at the right time & look for fresh Opportunity to enter.
- Market might give you Big swings today.
- Important is not to get trapped & have your plan set.
- Yesterday VIX Crashed below 24 and put options Premium fell down Drastically.
- Reliance was going down Yesterday but the Put Option Premiums were falling.
- This is the Magic of Falling VIX.
- A bit of short covering rally happened Yesterday a bit more is left.
- But Markets will be highly Volatile today.
- Yesterday was an easy Trending day & today it is time to be with caution.
- 11200 is a strong support for Nifty for this Expiry.
- 11400 is the next Resistance.
- Expecting this level to play out for most of the time.
- Nifty might trade between 11240 to 11420 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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