- 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 higher on Friday. 2. Right now , dow futures are lower. 3. Asian markets are mixed. 4. SGX Nifty is up 30-50 Points. 5. There's no point discussing Global markets today. 6. As we are dealing with our own local issues as of now. 7. The talk of the town is Adani Group. 8. Every stock Market participant during last 2 days have not spent as much time with their wife /gf /husband /bf as they have spent on researching Adani stocks. 9. They shouldn't have wasted so much time in research and should've spent their time with loved ones. 10. As Ultimately my Pre Market report would clear all. 11. Now , the Adani stock price has gone below the FPO price. 12. FPO price is in the range of 3100-3200 and stock price is around 2800 13. Who will subscribe to FPO when they can buy shares much cheaper from the Market? 14. Also over the weekend Adani has come up with a 450 page report addressing one by one the allegations made by Hindenberg. 15. I haven't
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