- U.S Markets closed higher Yesterday.
- Dow futures are almost flat.
- Asian markets are shining in Green.
- SGX Nifty is near 17700.
- It's the same Old Story today as well.
- Same old Story of a Classical Breakout and Trapped all the Short Sellers.
- Now there is no stopping for the Market.
- The new story is of Bank Nifty.
- Bank Nifty had the highest call writing at 37000 CE and soon as this got taken out , there was a fantastic rally.
- Nifty is already in a Bull run of its own and now if Bank Nifty joins , the party would be much bigger.
- Right now I see many People still Bearish and expecting Market to crash.
- We handle 100+ Accounts of various clients and whenever we go long 20% of them text us to buy put options as Markets would crash.
- We trade according to our plan and not according to views of Individuals.
- So they buy Put Options themselves and blow up their Accounts.
- The point I'm trying to make here is , as long as these bears exist in the Market we will keep going higher.
- When every Bear turns into a Bull that's when correction begins.
- Market doesn't go up everyday by fresh buying and doesn't go down everyday by selling.
- Market in short term goes higher due to short covering and corrections begin due to long unwinding.
- We had such a stellar rally in Nifty in Bank Nifty in last 2 days not due to fresh buying but due to short covering and due to call excessive call Writing.
- I have already mentioned yesterday not to short this Market and burn your fingers.
- Put Options look very cheap but what's the use of buying it when it goes to Zero 9 times out of 10.
- Stay on the long side , play the trend and just identify good buying zones to enter into.
- Yesterday Market has test the support of 17500 and rallied from these levels.
- I have sold Puts of 17350 and below as my Stoploss was 17400.
- Now as Market keeps going higher I would be shifting Put options to higher strikes and revising my Stoploss.
- Nifty might Trade between 17580 to 17740 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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