- US markets fell Yesterday.
- Asian Markets are Trading mixed.
- SGX Nifty is now Trading above 15k.
- Yesterday last hour we witnessed a heavy short covering.
- Nifty was up 150 Points and Bank Nifty was up 300 Points.
- 15000 CE has the open interest.
- Option writers have sold this Call Option heavily.
- Once we break this level we might witness a heavy short covering as option writers would look for cover.
- I feel Markets will expire somewhere near to previous week expiry level.
- Previous week we expired around 15100 guess this week also it's going to be the same.
- 15200 is a big resistance for Nifty and it has reversed almost 4-5 times from that level.
- So the Possibility of crossing 15200 seems difficult this week.
- On the down side 14800 should act as a good support.
- So the range comes in between 14800-15200 for Nifty for this expiry.
- Unless anything drastic happens or fresh news triggers out.
- I feel we should expire within above levels.
- Generally Wednesdays are Rangebound sessions but with good amount of Volatility.
- Expecting today to be the same.
- Nifty might Trade between 14920-15120 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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