- U.S Markets closed higher Yesterday.
- Asian markets are mixed.
- Dow futures are higher now.
- SGX Nifty is up 200+ points.
- Why do we have this large gap up today?
- I have no idea.
- There are no major positive cues across Globle.
- Everything is the same as before.
- Just that we are out of a major Fed event now.
- Today's gap up makes me a little bit uncomfortable.
- But Market doesn't care about all this.
- Wednesday Nifty made a low of 16450.
- Todays SGX Nifty high is 17200.
- So this is a swing of 700+ points in 2 trading sessions.
- This is quite a huge turnaround by the Markets.
- Bank Nifty is above 200 DMA
- Nifty today will be above 200 DMA.
- This is not a sell on rally / Bear Market anymore
- Yesterday U.S GDP data was announced.
- Data was in negative but even then Markets shot higher.
- When Market rallies on negative news then it is a super Bullish Market.
- Our clients have long positions / Put option sell positions so we have been saved.
- I have been anticipating this rally and was even communicating this via whatsapp status updates.
- I know many Call writers who have lost huge yesterday and will lose more today as well.
- So option selling is not that easy.
- Sometimes directional option selling is a necessity too.
- Nifty might Trade between 17000 to 17200 today.
- stockmarketadvisory.in
1. U.S Markets closed lower on Friday. 2. Dow Jones was flat. 3. Nasdaq was the underperformer. 4. Gift Nifty is down 30-40 Points. 5. Asian markets are mostly lower as well. 6. Friday the Nifty opened with a gap down of 200 points. 7. Within the next 10 minutes , Nifty recovered 100 points. 8. Bulls expected recovery is on the cards but Nifty started to Crack. 9. Bank Nifty was holding up Nifty for most of the while. 10. It couldn't be able to provide much of a support and Bank nifty also began to correct. 11. The issue now is market has had vertical rallies. 12. One way quick rallies so now the downfall will also be vertical. 13. When markets go up quick , they come down quicker. 14. Infy dragged the mood and also HUL didn't post extraordinary results so it was also a laggard. 15. Banks tried hard to hold the markets but couldn't. 16. Over the weekend , AU Bank and icici bank reported very good numbers. 17. These banks have already rallied a lot before results
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