- U.S Markets closed higher yesterday.
- Right now Dow futures are higher.
- Asian Markets are higher.
- SGX Nifty is up 100 points.
- Yesterday Nifty witnessed resistance near 17800 for whole of the expiry.
- Today it's indicating a gap up above 17800.
- 17800 to 18000 should be the range now .
- 18000 CE has the highest open interest amoung weekly options.
- This would be the next resistance level now.
- Markets right now seems to be ignoring all the negatives.
- But this is a high volatile market.
- So stoploss is a must when trading in such markets.
- 17800 should be a good support for Intraday now.
- I would like to buy the dip close to 17800 and sell the rally close to 18000 with 30 point stoploss.
- If any of these levels gets taken out decisively will follow the trend.
- Until then it's a ranging market.
- With sideways moves.
- Fridays are volatile so trade based on strict stoploss
- Nifty might Trade between 17800 to 18000 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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