Nifty hovering near 17k ( 16th March 2023)

1. U.S Markets closed lower yesterday.

2. Right now , U.S Futures are higher.

3. SGX Nifty is Flat.

4. Asian markets are mixed.

5. Yesterday Nifty tried to retest 17300.

6. There was a rejection from this level and Nifty broke 17k.

7. Exactly as we has hinted in the blog yesterday.

8. U.S Markets when I slept yesterday were down 700 points.

9. Today Morning I saw there was a sharp recovery from the lows and they have closed just 270 points lower.

10. This recovery from the lows cannot be termed as bottom yet.

11. Trends don't change so easily and bottoms take time to be made.

12. 16800 is the next major support now.

13. All he'll would break loose once markets break 16800.

14. We might consolidate now for a few trading sessions.

15. Before there's a bigger move in the markets.

16. 17000 is the first support and next major support at 16800.

17. U.S VIX has crossed 25 now.

18. India VIX is close to 17 now.

19. The Volatility which we are having now it seems like india VIX is at 25 or so

20. Naked option selling is the worst strategy anybody could deploy currently.

21. India VIX is low so option premiums are low.

22. Volatility is insane.

23. There's no edge in the current market conditions for the same.

24. Nifty might trade between 16900 to 17200 today.

25. stockmarketadvisory.in

Comments

Reversal from 20k (24th July 2023)

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1. U.S Markets closed higher yesterday. 2 Right now , Dow Futures are slightly higher. 3. SGX Nifty is higher by 40-50 Points. 4. Asian Markets are higher. 5. Yesterday was a strange trading day. 6. I say strange because SGX Nifty pre market was showing 30-40 point gap up opening. 7. Nifty opened around 120 points higher. 8. This was a huge gap up out of nowhere. 9. So naturally it was an excellent shorting opportunity. 10. The Volatility again yesterday was super high. 11. Nifty tested the previous day low of 18100 once again yesterday. 12. There was an intense selling during the last 30 minutes yesterday. 13. Surprisingly, INDIA VIX hasn't inched higher in last 3 days of extreme sell off. 14. This shows that there is lesser panic in the markets right now. 15. Currently, we have a good risk - reward trade opening up on Nifty. 16. 18100 looks as a double bottom being made on Nifty for the short term. 17. There are fever indications for the same 18. One could g

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