- U.S Markets closed higher yesterday.
- Right now Dow futures are higher.
- Asian markets are higher.
- SGX Nifty is near 17320.
- Suggesting a positive opening for the day.
- Yesterday was a totally volatile session.
- First half as expected sell off started to accentuate and at one point of time 17000 was on the cards.
- Market took support near important levels 17050 and shot up from there.
- It was a huge short covering in the second half yesterday.
- This V shape recovery and volatility is chopping off the traders.
- Killing on both sides.
- Many of my trader friends lost huge amounts yesterday.
- I basically hedge my positions so I am in minor loss but we know how to manage positions.
- 17000 for me is a short term low and I don't see Market going there expect in the last week of Feb.
- Last week of expiys are hugely volatile so anything may happen in the last week.
- Don't expect 17000 to breach in next 7 trading sessions including today.
- 17300 CE added good open interest yesterday and 17400 CE added huge open interest.
- If gap up sustains , these call writers may be trapped.
- Important point here is India VIX crashed 4% yesterday.
- Even though Market is hugely volatile , india VIX is going down.
- This indicates stability in the short term.
- Nifty might Trade between 17100 to 17400 today.
- stockmarketadvisory.in
1. U.S Markets closed lower on Friday. 2. All the indices closed lower. 3. Right now , Dow Futures are lower. 4. Asian Markets are all lower. 5. All the Global Markets are Negative today. 6. From Thursday to Monday Morning , U.S Markets have crashed more than 6%. 7. This is a terrible & an Alarming fall. 8. U.S VIX jumped another more than 20% on Friday. 9. This is the fearful data point. 10. Reason for all this is because of Geopolitical conflicts. 11. Iran - Israel tensions. 12. Japan currency depreciation etc. 13. All this is leading to a flash crash in the Markets. 14. 24500-24400 is a crutial support for nifty. 15. We are likely to open closer to these levels as per Gift Nifty. 16. First hour is the key today. 17. If we do not break the first hour low throughout the day then we might expect a reversal. 18. A further correction may be expected if the first hour low gets taken out. 19. Nifty might trade between 24300 to 24700 today. 20. stockmarketadvisory.in
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