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Pre - Market Analysis (22nd October 2021)

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


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