- U.S Markets closed Flat Yesterday.
- Asian Markets were weak.
- Right now Dow Futures are Slightly lower & Asian Markets futures are very weak.
- SGX Nifty is Trading near 16630.
- Something Unusual happened Yesterday.
- Above is Yesterday's chart of Nifty.
- Nifty Yesterday from 16700 to 16640 then broke 16700 and went 16712.
- As soon as Nifty broke 16700 Call Premiums rose significantly.
- Many Traders assumed this Green Candle as a Breakout and went long.
- Within few minutes Nifty again came back to 16640.
- This shows that Big People who control the Market do not want Small Trader's to make money.
- They will sometimes give fake trading signals let you enter into trade and then take away your Stoploss.
- Trading is a business and when you enter into a new business your competitor won't keep a red blanket to welcome you.
- They will do all the tricks to throw you out of the business so that they are in control.
- This isn't the first time this has happened.
- This has happened numorous times in the past as well.
- That's why Trading is Competitive because you are competing with people who have thousands of crores.
- If you are not on top of the game then you become an easy trap.
- Luckily I wasn't trapped Yesterday as I was waiting for a Breakout confirmation but it didn't happen.
- Aware of such tricks by big players I sold 16750 CE and that worked well.
- Yesterday was a flat day if you see closing basis but for directional players all stoplosses were hit.
- Today we have the Monthly Expiry.
- Asian Markets look weak so rangebound option sellers who sell call and put both and then manage should be careful.
- Today we can have a big move on one side.
- Premiums are too low and not at all attractive.
- So trade with very less volume today and only on comfortable entries.
- 16500 is the support and 16700 is a resistance.
- Expect Nifty to expire within these levels.
- If any of the above level breaks then one could play directional trade.
- Bank Nifty looks weak.
- Any rallies should be sold into.
- Nifty might Trade between 16500 to 16700 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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