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

Pre- Market Analysis (5th May 2022)

U.S Markets closed higher yesterday. Asian markets are higher. SGX nifty is up 150 points. Yesterday was a very tricky and unexpected session. As soon as Market opened there was a continuous selling. Market was falling left , right and center without taking any support. I was wondering why is the Market going against the global cues Then we got the news about RBI Governer press conference. So some informed people already knew about this rate hike. Hence there was a sudden selling in the markets. RBI hiked repo rate by 40 basis points and Cash Reverse ratio by 50 basis points. Repo rate is the rate at which banks borrow money from RBI. When the rate is increased banks borrow money at higher cost and in turn loans also get costlier. This slows down the growth and liquidity in the Market temporarily. Cash reserve ratio is the interest free deposit money which banks have to keep with RBI. RBI uses that money without having to pay any interest on it. Increasing CRR means RBI is

Pre - Market Analysis (18th April 2022)

U.S Markets closed lower on Thursday. Asian markets are all lower. Dow futures are lower right now. SGX Nifty is down 250 points. Indicating a huge gap down at the open. Reason is the Global markets underperformance plus not so good corporate results. Infosys has disappointed and missed earnings by street estimates. Infy ADR was down 9% in last 2 trading sessions in U.S Hdfc bank also missed earnings but asset quality has been improved. Today we can expect huge gap down openimg in infy. Hdfc bank has limited downside left because it has already fallen a lot after the merger news. 17150-17200 is a strong support on Nifty and this is where 200 DMA kicks in. If you are a Bull this is a large support area. Markets are oversold and this offers a good opportunity to go long. Nect support comes in at 17k. If global markets keep declining then no support would work. Bank Nifty 200 DMA kicks in at 36800. Bank Nifty looks much stronger than Nifty currently as IT isn't included in

Pre - Market Analysis (11th April 2022)

U.S Markets closed mixed on Friday. Dow Jones closed slightly higher. S&P 500 was flat and Nasdaq is very weak. Right now , Dow futures are lower. SGX Nifty is down 100 points. So we are in for a gap down opening today. Friday was a quite interesting day. As expected , RBI policy was a status quo. Nifty broke Thursday low of 17640 and traded below for quite some time. And then for a short squeeze. All the shorts were trapped and we had a big rally. Most importantly , India VIX was down 7% on Friday. I expect markets to consolidate between 17600 to 18100 for a while. I do not see a reason to be excessively bearish now. Markets went from 17700 to 18100 because of hdfc twins. And then crashed to 17600 because of these both stocks. These both stocks have given up all of their gains and are back to Pre merger levels. There is very limited downside now for these stocks and expecting these stocks to bottom out soon 17500 to 17600 is a strong buy zone on Nifty. Also earnings se

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