- U.S Markets closed higher on Friday.
- Right now Dow Futures are lower.
- Asian Markets are all in deep red.
- This is why SGX Nifty is also negative about 50 points and trading near 15800.
- Hang Seng and Chinese markets are down more than 2% each.
- This is because Chinese Govt is behind technology gaints.
- Ali Baba 6 Months ago was being succumbed to this pressure.
- Now other IT companies are also facing he heat.
- These local issues should not much impact on our Indian Markets for longer term.
- ICICI Bank and Reliance industries declared results over the weekend.
- Both these companies are important components and have heavy weightage in Nifty and Bank Nifty.
- ICICI Banks profit growth was good and also there wasn't any major lag in Asset Book.
- Reliance Industries results were also as per Expectations.
- GRM Margins increased due to crude oil prices fall was a cherry on the Cake.
- I expect Markets to be rangebound for this week too.
- 15500 to 16000 is the range.
- Unless some new news comes out of the bloom we should be trading in this range.
- Naked Options selling is not advisable considering such low VIX as in the last week Vega effect is at its highest.
- I bought 15900 CE at 98 and sold 16000 CE double the quantity at 56.
- Strategies like above should be preferred in such scenarios.
- Nifty might Trade between 15720 to 15880 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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