- U.S Markets closed a percent higher on Friday.
- SGX Nifty crossed 14850 on Friday.
- Right now U.S Futures and Asian Market's are marginally weaker.
- SGX Nifty is trading around 14770 now.
- Markets have been in a rangebound zone and have been Consolidating from quite some time now.
- Last week the U.S inflation data triggered a fear in our Markets.
- Due to the same Volatility has increased.
- Friday was a fairly Volatile day.
- Nifty traded within 100 Point range but there were big swings throughout the day.
- Bank Nifty fell a percent on Friday.
- Bank Nifty looks weaker than the Nifty.
- We have SBI results coming this week and if this is positive then it may trigger Bank Nifty higher.
- As of now 14800 and above seems to be a strong resistance as calls have been written aggressively from 14800 and above.
- More call writing is going on than puts.
- Remember, option writers can also be wrong and small rally might propell the markets higher.
- 14350 to 15000 is the range I expect the Market to trade these coming 4 days.
- So as when you get sharp dips or sharp rallies one can sell 14350 PE or 15000 CE etc.
- I've sold 14700 Straddle at 450₹ on Friday.
- First 2 weeks on May markets went nowhere.
- Usually when this happens Markets tend to make a big move while getting near to the last week of expiry.
- Both DII's & FII's were net sellers last week.
- Nifty might Trade between 14580 to 14820 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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