- U.S Markets closed slightly higher Yesterday.
- Dow Futures are now flat.
- SGX Nifty is almost flat.
- Asian Markets are mixed.
- Yesterday we witnessed a huge gap up on both the indices and there was a follow through of the rally during the day.
- All might have various theories as to why Market fell , why It rose etc.
- My Simple understanding we are in a ranging Market on Nifty.
- The range is 15550 to 15950.
- This is a tight range of 400 points.
- Nifty is trading within this range and giving wild moves.
- It's been 4 weeks for July series and we have been trading within this range.
- Usually Markets make a big move on the last week so we might be in for some surprises.
- I do not see reason to be Bearish for traders.
- Bank Nifty is the weak link for the Bulls.
- Yesterday as well , Bank Nifty rally fizzled out.
- We have 2 very important results lined up.
- Reliance Industries and ICICI Bank.
- Reliance Industries has the leading weightage in Nifty and ICICI Bank has the 2nd largest weightage in Bank Nifty.
- Both these results will determine the future course of events for Markets.
- Until then I expect Markets to be Rangebound.
- Yesterday I pointed out that India VIX should fall and the same has happened.
- India VIX crashed 10% yesterday and closed below 12.
- Nifty might Trade between 15780 to 15920 today.
- In such low premium environment it's better to do Ratio Spreads , Calendar Spreads , Bull & Bear Spreads and avoid selling naked options.
- Vega effect is highest in last week of expiry.
- 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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