- US Markets opened Positive Yesterday but Ultimately closed in Red.
- Nasdaq is also Trading lower.
- Asian Markets are mostly in Red.
- March would be the first week where Nifty has expired Negative.
- FII's have started to sell.
- When FII's press sell Button this is how Market falls.
- SGX Nifty at one time was below 14500 but has recovered now.
- 14500 is a near term support for Nifty if that breaks then next support comes around 14350.
- Same way 14700 CE has added highest open Interest yesterday.
- That would act as a resistance today.
- Monthly Expirys are more Volatile than weekly Expirys as there is excess participation.
- Futures Contract Expiry also happens the same day.
- Plus rollover of some Futures Positions too.
- This creates added Volatility.
- I have sold Many Call Options.
- 14750 CE , 14800 CE , 14700 CE on Nifty.
- Have sold 34000 , 34100 , 34200 , 34300 , 34400 , 34500 CE on Bank Nifty.
- Will look to exit these trades in first half as premiums would come to single digits mostly at open.
- Will convert the Positions to next Expiry ie , 1st of April as we have a Holiday next week.
- Next week we have only 4 trading sessions.
- Today's view is Bearish / Neutral.
- Nifty might Trade between 14360-14700 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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