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Pre - Market Analysis (16th November 2021)

  1. U.S Markets closed flat Yesterday.
  2. Asian markets and Dow Futures are slightly higher.
  3. SGX Nifty is trading near 18200.
  4. Yesterday as well SGX was indicating a gap up near 18220 but markets opened at 18140.
  5. After opening we tried to go near SGX level but 18200 became a stiff resistance.
  6. 18200 CE added 50L contracts yesterday.
  7. 18200 CE has been sold heavily yesterday and 18000 PE as well.
  8. Option sellers are expecting a tight range of 18000 to 18200 for this expiry.
  9. In the past as well when there has been heavy call writing Market rallies as and when this call writers get in trouble.
  10. November has been a failrly rangebound and volatile Market.
  11. There have been big moves within the range.
  12. India VIX was also higher by 3% yesterday.
  13. Yesterday the low for Nifty futures was 18100.
  14. 18100 got tested yesterday and Market has respected this level.
  15. Nifty is looking strong but Bank Nifty is looking quite weak.
  16. 39000 CE was sold heavily yesterday.
  17. Hedging could be done selling CE in Bank Nifty and PE in Nifty.
  18. There is higher margin of safety in Nifty currently.
  19. Nifty might Trade between 18080 to 18250 today.


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