Reversal from 17200 (24th March 2023)

1. U.S Markets closed lower yesterday.

2. At one point of time , U.S Markets were higher by more than a percent.

3. U.S Markets yesterday behaved similar to Indian Markets.

4. We trade in U.S Markets as well so in the first half Markets were higher.

5. There was huge selling in the second half.

6. Yesterday in the first half Markets were smooth and were gradually inching higher.

7. As soon as Nifty hit 17200 , there was a big sell off.

8. Nifty and Bank nifty closed at the lowest point of the day.

9. Right now , U.S Futures are slightly higher.

10. SGX Nifty is down 20-30 Points.

11. Asian markets are mostly lower.

12. Now the range for nifty is 17000 to 17200.

13. This is the short term range.

14. As soon as 17000 gets taken out we would be heading towards 16850.

15. So the markets are clearly weak now.

16. It is a sell on rally Market.

17. There will be some minor pullbacks in between.

18. An inexperienced trader would try to trade minor pullbacks and make pennies out of it.

19. Experienced trader would look to short at key levels and follow the trend.

20. Do not trade against the trend , you would make pennies in small trades but when you lose it will be big

21. General tendency of people is buying the dip.

22. Shorting doesn't come naturally to them , as a trader you gotta be flexible.

23. If you are only a Bullish trader then wait on the sidelines.

24. Be a trader who is flexible trading both the sides..

25. Then itself you would survive for a longer term here

26. Nifty might trade between 16850 to 17150 today .

27. stockmarketadvisory.in

Comments

Pre - Market Analysis (30th Jan 2022)

1. U.S Markets closed higher on Friday. 2. Right now , dow futures are lower. 3. Asian markets are mixed. 4. SGX Nifty is up 30-50 Points. 5. There's no point discussing Global markets today. 6. As we are dealing with our own local issues as of now. 7. The talk of the town is Adani Group. 8. Every stock Market participant during last 2 days have not spent as much time with their wife /gf /husband /bf as they have spent on researching Adani stocks. 9. They shouldn't have wasted so much time in research and should've spent their time with loved ones. 10. As Ultimately my Pre Market report would clear all. 11. Now , the Adani stock price has gone below the FPO price. 12. FPO price is in the range of 3100-3200 and stock price is around 2800 13. Who will subscribe to FPO when they can buy shares much cheaper from the Market? 14. Also over the weekend Adani has come up with a 450 page report addressing one by one the allegations made by Hindenberg. 15. I haven't

Pre - Market Analysis (18th August 2022)

U.S Markets closed Flat Yesterday. Asian markets are mixed. SGX Nifty is close to 17940 right now. Yesterday markets broke out of 17900 and now are closer to 18000. 18000 is important as 18000 CE has the highest open interest. Highest amount of calls have been written for 18000 CE strike price. Plus round figures always act as psychological resistance too. Today is the weekly expiry and as of now the range is 17800 to 18000. 17800 is a strong support level and 18000 might act as resistance. Markets will gain steam once 18000 is taken out. Today could be a side-ways expiry. But nothing can be said as markets can always surprise you. IT Index has crossed 30k. Sensex yesterday hit a landmark of 60k. Sensex and Nifty both are now just 3% away from all time highs. So this isnt just a Bull Market , it's a raging Bull Market. India VIX closed below 18 yesterday. Bank Nifty is close to important levels of 40k. Once these important levels are taken out then we move towards all t

Pre - Market Analysis (14th September 2022)

U.S Markets closed lower Yesterday. Dow Jones & S&P 500 crashed 4% each. Nasdaq crashed 5% Yesterday. SGX Nifty is indicating a 300 point massive gap down today Asian markets are lower. Reason is the U.S Inflation data which got released yesterday. Inflation data arrived was at 8.3% . This Data was higher than the expected data. Market wasn't expecting Inflation data to be above 8%. But this data shocked the markets. Yesterday Dow futures were higher till Inflation data was announced. They were higher by 200 points. As soon as Inflation data got announced it spooked the markets U.S VIX rose 15% Yesterday. Right now Dow futures are slightly higher. 17800 is a strong support for Nifty. It this holds we can expect fall to reduce. Fall shouldn't be drastic if Nifty holds 17800. Yesterday many traders had longs as Nifty closed above 18k. All these traders will be chopped off due to this gap down. Nifty might Trade between 17700 to 18000 today. stockmarketadviso

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