- U.S Markets closed lower on Friday.
- Dow Jones fell for 5 Consecutive sessions now.
- Right now Dow Futures are higher.
- SGX Nifty is down by 20-30 Points near 17350.
- Last Expiry was a bit surprising for me.
- During trading hours on Thursday expiry Asian Markets and U.S Markets were bleeding.
- Both were down significantly but still Nifty managed to hold on to gains & close In Green.
- For whole of the last week Nifty was rangebound.
- 17250 to 17450 is the range.
- This is a narrow range and I expect it to continue for a couple of days.
- After this we could expect some range breakout or breakdown.
- I have a slightly bearish view as of now.
- But still I don't feel Nifty would break 17200 for this Expiry.
- We only have 4 trading sessions for this Expiry as Friday was Holiday.
- Plan is to trade the range unless there are clear signs of one sided move.
- Not much significant news over the weekend which could impact the Markets.
- Ranging Markets are difficult to trade as there are sharp turnaround / swings.
- One should be very skilled in Managing Positions.
- Closer to 17280-17250 I would be selling Put options below 17200 with a stoploss of 17200 and near 17420-17450 I would be selling Call Options above 17500.
- As of now this is the Plan unless we have a range breakout/breakdown.
- 17400 CE has the highest Open interest in Weekly Options.
- If 17440-17460 gets taken out decisively then these players would itself take Nifty higher.
- Nifty might Trade between 17240-17440 today.
- 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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