- U.S Markets closed lower Yesterday.
- Dow Jones fell for 3 Consecutive sessions now.
- Asian Markets are mostly lower.
- SGX Nifty is down by 30-40 Points near 17330.
- Yesterday as Expected Markets were highly Volatile.
- First half was quiet but in second half there no package announced for Telecom Sector.
- Due to this Nifty fell 100 Points Intraday to 17250 but ultimately recovered towards the end of the day.
- 17200 to 17500 range stayed intact and trading near boundaries worked well.
- Today im Expecting Volatility to continue.
- Global Markets are weak but our overall trend is up.
- We are in for a long weekend as there is a local holiday tomorrow.
- 3 days long weekend traders won't like to carry Positions home.
- Both side moves would be there today and not a one sided move.
- In this kind of Market it's better to focus on Trading the range.
- Yesterday's range was 17250 to 17400 broadly.
- Expecting today's range between 17230 to 17450.
- If Nifty gaps down towards 17280-17250 I would be looking to sell 17200 PE with a stoploss of 17200 on Nifty Spot levels.
- Closer to 17400-17420 I would look to sell 17450 or 17500 CE depending on Premium.
- I would not like to trade in next expiry options today because of a long weekend.
- I would like to trade in today's expiry options only if Market gives in my range.
- Otherwise I would be sitting quiet without doing anything.
- Do not force trades specially on Expiry days.
- Nifty might Trade between 17220 to 17460 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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