- U.S Markets closed higher Yesterday.
- Right now , Dow Futures are lower.
- SGX Nifty is up 200 Points
- 100-150 point gap up / gap down has become a normal routine now
- U.S VIX crashed 7% Yesterday.
- This is a good sign for option sellers and also markets.
- As Volatility would reduce and markets find stability.
- Today as per SGX we are likely to open above 17k.
- 17k CE has the highest open interest for today's expiry
- If we sustain above 17k and cross Yesterday's high of 17100 this will induce huge short covering.
- Today is expiry so crazy things happen on expiry days.
- This is because of expiry related issues etc.
- Another Possibility is FII's use this gap up as an Opportunity to sell big .
- Previous 6 trading sessions, FII's have sold for 16500 crores
- This is intense selling owing to Rupee depreciation.
- Today will they again use this as an opportunity to sell or will cover shorts.
- We shall know by the first hour price action.
- Generally on expiry days we have an inside candle
- Which is yesterdays trading range.
- Yesterday's range was 16800 to 17100.
- If any of these levels gets taken out then we are likely to have a big trending day.
- Chasing a 200 point gap up isn't advisable.
- I would rather like to short near 17050-17100 with a 50 point stoploss.
- This gives me a Risk reward ratio of 1:3 , 1:4.
- Nifty might Trade between 16800 to 17100 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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