- U.S Markets closed higher Yesterday.
- Dow futures are higher right now
- Asian Markets are higher.
- SGX Nifty is up 40-50 points.
- U.S VIX is now below 30.
- India VIX closed below 18 significantly yesterday.
- As expected, Global Markets have made a short term bottom after the Inflation numbers.
- Indian local cues have also been Positive.
- Majority of the Corporate results have been above expectations.
- Previously, there was a tug of war between bad Global cues and good local cues.
- During such situations, markets traded violently within a range.
- Now the Global cues have come in favour.
- Markets are now trading at swing highs.
- Further upside cannot be ruled out from here.
- If you are trying to go long near these levels then your stoploss should be tight.
- 17400 is the immediate stoploss for Intraday traders.
- Yesterday during Market hours there was something interesting developing.
- 17600 PE was being written aggressively which is an ATM Option.
- This shows the Confidence of the option writers.
- I have sold Monthly Puts below 17200 and monthly calls above 17900.
- Will do Adjustments accordingly based on market moves.
- My bias is Bullish right now.
- Nifty might Trade between 17400 to 17700 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
Comments