- US markets closed Negative Yesterday.
- Asian Markets are all trading in Red.
- SGX Nifty is down 200 Points.
- Markets reacting to the Bad Jobs Data posted by U.S a day later.
- Technology stocks came under severe profit booking pressure.
- Nasdaq once again highly under performed Dow.
- WHO has classified triple-mutant Covid variant from India as global health risk.
- This is the deadliest variant found in India due to which cases were on a steep rise.
- Yesterday I mentioned it's time to exit long positions and go short near 15000.
- We were likely to witness the profit booking near the upper end of the range.
- Now we are back to our old range of 14200 and 15000.
- Lot of Put options were sold Yesterday and 14900 PE had the highest open interest.
- As there were heavy put writers they may run for cover as Markets fell and might short futures.
- So this might turn much bigger fall for our markets.
- Luckily , I do not have any Weekly expiry positions as yesterday the premiums were too low and everything was already at 60-70% discount and 2 days were remaining for expiry.
- So I thought it wasn't favourable to hold these positions as the returns are too less.
- Trading is weekly expiry is high risk and high return.
- One needs to be highly careful or else the Gama effect might throw you out of the Market.
- Whenever there is such a big fall Intraday I would use this opportunity to sell 14000 PE monthly expiry.
- For today I expect Markets to take support near 14700 whereas 15k would be a stiff resistance.
- Nifty might Trade between 14700 to 14940 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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