- 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 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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