- U.S Markets closed higher Yesterday.
- Right now Dow futures and Asian Markets are lower.
- SGX Nifty is at 18100.
- Volatility intensifies in November.
- Yesterday Nifty opened with a huge gap up , fell 150 points from day high.
- Took support near 17850 and then rallied 300 points.
- This is a three way move on a particular trading day.
- 18000 CE had the highest open interest until yesterday.
- More than 1 crore contracts were written for 18000 CE.
- Naturally all these traders had to run for cover as soon as we broke out of 18k.
- Currently the highest open interest has now been shifted to 17900 PE in weekly options.
- 18200 CE has the next highest open interest.
- 17900 to 18200 is Likely to be the range for the current expiry.
- IndusInd Bank was the stock in focus yesterday.
- Many loans were transferred to inactive accounts due to technical glitch amounting nearly to 34000 crores.
- This led to a 10% fall in no time for IndusInd Bank.
- This was the reason for underperformance of Bank Nifty yesterday.
- Market is in a consolidation but this is happening with heavy volatility.
- My range for November month is 17600 to 18600 for Nifty.
- Would sell calls and puts below and above this range only unless I find some clear big move.
- Nifty might Trade between 17900 to 18200 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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