1. U.S Markets were closed yesterday.
2. Right now , Dow futures are higher.
3. Asian markets are higher.
4. SGX Nifty is up 80-90 Points.
5. Yesterday there was a rally in the markets.
6. Is this a relief rally or a trend reversal we will come to know today.
7. 18000 short straddle the highest open interest in monthly options.
8. This Short Straddle is trading at 200rs.
9. So the range for Nifty is 17800 to 18200.
10. Also there has been huge put writing at 17800.
11. Huge Call writing at 18200 is also taking place.
12. Option sellers are predicting a range of 17800 to 18200.
13. Yesterday the DII's have bought for more than 3000 crores.
14. In Monthly expiry , generally big moves take place in the markets.
15. I expect this range to be taken out either upside or downside.
16. I see all the media writing and saying that we fell due to China Covid etc.
17. If we fell due to China Covid issue why didn't the other markets fell.
18. We fell because we were outperforming the World markets.
19. We are giving up the outperformance now.
20. This is my study why we had a waterfall type of decline.
21. Nifty might trade between 18000 to 18200 today.
22. stockmarketadvisory.in
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