- U.S Markets closed flat Yesterday.
- S & P 500 hit a fresh all time high Yesterday.
- Asian Markets and Dow futures are flat now.
- Yesterday was the most Volatile expiry after March 2021.
- In March Monthly expiry I remember Nifty fell 200 Points Intraday , recovered all the losses and again fell during the day.
- It was a 3 sided move but fortunately was only 2 sided.
- I have stopped doing weekly options sellng on Expiry and on Expirys I'm shifting to next week expiry options.
- Reason is premiums are too low and moves like yesterday can make you bankrupt.
- For earning pennies the risk is too high.
- Yesterday DII's turned buyers after selling for 2 days continuously.
- FII's still remain net sellers.
- In the past I've observed no correction has lasted over 500 points on Nifty.
- Last month Nifty fell from 17950 to 17450 made a bottom and then blaste higher.
- This week we have got a correction of 500 points exactly.
- Also most of Nifty stocks are down 3-4% except banks and Reliance is going to declare results today
- Reliance was down 2% yesterday so good numbers can lead Reliance and Nifty higher.
- I expect 18000 to 18500 to be broader range for Nifty on this expiry.
- I expect today's gap up to get sold into in first half and consolidation towards the day.
- If we consolidate today and don't keep falling then it's a bottom else there is downside more to come.
- Nifty might Trade between 18100 to 18350 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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