- 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
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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