- U.S Markets closed slightly higher Yesterday.
- Asian markets are mixed.
- SGX Nifty is close to 17950.
- Yesterday markets traded flat throughout and now are closer to 18000.
- 18000 is important as 18000 CE has the highest open interest.
- Highest amount of calls have been written for 18000 CE strike price.
- Plus round figures always act as psychological resistance too.
- Yesterday as Analysed , markets traded within the range of 17800 to 18000.
- 17800 PE has got highest open interest and 18000 CE has got highest open interest on calls side.
- Markets might consolidate for some more time in this range.
- In due time , markets will break out of this range.
- Chances of breakout above 18000 is quite high.
- Bank Nifty showed momentum yesterday.
- It was outperforming Nifty throughout the day.
- VIX was up 3% at one point of time yesterday but closed a percent lower.
- These are good signs for option sellers.
- Last week is generally highly volatile.
- As the Gamma effect takes over due to low premiums.
- Nifty might Trade between 17800 to 18080 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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