- 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
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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