- U.S Markets closed Mildly higher Yesterday.
- Right now U.S Futures are Trading higher.
- SGX Nifty indicates an opening near 15700.
- Yesterday in the first half markets witnessed profit booking and were trading negative.
- During the day this gap was bought into and Markets closed near the highs.
- I had mentioned that Bank Nifty is a good buy near 35k and Nifty is a good buy on dips opportunity.
- Markets took support exactly at those levels.
- Reliance I had adviced to buy near 1900 and from there it's up almost 13%
- Those who have entered on my recommendation can book 50% gains there and keep Stoploss at cost for remaining 50%.
- Coming to today's expiry , due to the first half being negative there had been a good amount of call writing yesterday.
- 35500 CE for Bank Nifty , 14600 CE , 14700 CE added good amounts of open interest yesterday.
- Today Markets are likely to open above these levels.
- So if Markets sustains this gap up then I think we may witness much higher levels today.
- As these Call writers will be trapped and would run for cover.
- The premiums are too low for today.
- So Intraday option selling may not be fruitful.
- I've sold 35000 PE yesterday for Bank Nifty.
- This is likely to open at near single digits today.
- I would be mostly interested to trade next week expiry options due to very low premiums.
- Expiry Volatility may kick in later during the day and things might change.
- I plan and Analyse things before Market hours and hence post this blog.
- However things might change during the day.
- When they change and go against my blog view I generally keep posting updates on my Whatsapp status.
- Those wishing to get live updates can whatsapp me personally at 07719887348 on the same.
- A trader should be like a Chamelion and should change views According to Market.
- Sticking to a particular view to satisfy ego is a recipee for disaster.
- Nifty might Trade between 14580 to 14780 today.
- stockmarketadvisory.in
U.S Markets closed higher yesterday. Most importantly , S&P 500 VIX crashed 10%. There was huge Volatility in global markets due to Fed event. Markets remain volatile only when they have topped out or have bottomed out. Right now I feel we have bottomed out at 16850. Asian markets are slightly lower now. Dow futures are lower. SGX Nifty is at 17500. Finally , the most awaited day has come. Budget 2022 is going to be presented today. Expectations are of a good and stable budget. Reasons are the Elections coming up and LIC IPO in March. Govt very well knows if LIC IPO has to go through , Market sentiment has to be good. Without good market spending it would be very difficult for IPO to go through. Market had already fallen a lot before the budget. Although we have rallied in last 2 days but still we have some upside left. Though I feel it's not favourable to chase today's gap up. Today's gap up is a good opportunity to book profits those who carried longs. Bud
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