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Pre - Market Analysis (29th April 2021)

  1. US markets closed a bit lower Yesterday.
  2. Asian Markets are Positive.
  3. Right now US Futures are higher by more than a percent.
  4. SGX Nifty is above 15k now.
  5. Just before a week we were below 14200.
  6. Now we are at 15000.
  7. Bajaj twins were the star of the show yesterday.
  8. At one point of time these both were up more than 7% each.
  9. Massive short covering took place in these 2 counters yesterday.
  10. This is a dream rally of about 800 Points.
  11. To be true I too didn't expect that Markets would rally so quick so fast.
  12. This rally is majorly triggered by short covering.
  13. Due to Covid Cases increasing , beds and oxygen problem many people went short on the Market.
  14. I was also one of my them and I sold Call options.
  15. But as Market didn't respect my opinion I exited and started selling puts.
  16. Many traders are stubborn and don't book losses even when they know they are wrong.
  17. These traders are still short on Market and they will be taken to cleaners by looking at the way our Markets are rallying.
  18. These is more short covering left and there are many people who are shorting markets even now.
  19. Well I agree that the Micro Environment isn't good and Economy is in poor shape but markets work differently.
  20. As long as there are problems and issues Bull Market continues.
  21. Market discounts the future projections now.
  22. So rather than looking at economy etc better to focus on what the Market is trying to say.
  23. Only in that way one would be profitable here.
  24. Those who are buying now Covid will soon be a history and we will back to normal after the 2nd wave.
  25. Plus earnings season has started with highly positive note and all the companies are coming out with fantastic results inspite of pandemic.
  26. Apple has reported a growth of more than 50% this is extraordinary considering pandemic.
  27. Nifty might Trade between 14880 to 15080 today.
  28. stockmarketadvisory.in


Comments

Unknown said…
On point analysis!Nifty gave a strong resistance around 15050!Must read blogs everyday before trading. Could be very helpful to know the direction to enter into trade.
29 April 2021 at 23:25
Anonymous said…
I love you😛
29 April 2021 at 23:34
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