- U.S Markets closed lower Yesterday.
- Right now Dow Futures are higher.
- SGX Nifty is near 17420.
- Yesterday the Markets opened above 17400 and also sustained for first half.
- In the Second half it was Volatile and we witnessed slight profit booking.
- Nifty closed below 17400 Yesterday.
- Today also I feel that this Gap up on a close to close basis might not hold on.
- 17250 to 17450 is the range for Nifty.
- Yesterday SGX Nifty made a high of 17450 as U.S Inflation data was according to the Expectations of Market.
- As soon as U.S Markets opened , there was a heavy profit booking.
- Today also I expect Nifty to be Volatile between 17250 to 17450.
- The Plan for today is to sell 17000 and 17100 Put Options of Next week Expiry.
- Provided if Nifty comes to 17300-17250.
- I won't be selling Call Options as I expect a Breakout on the higher side in due course.
- Premiums are too low now as VIX closed lower Yesterday.
- Right now it's not favourable to sell Options.
- As VIX inches higher and there's a big swing in the Market that would be favourable to sell Options.
- Bank Nifty is totally sideways and is going nowhere.
- It goes up one day comes down another day trading at same levels towards the day.
- Nifty might Trade between 17250 to 17450 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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