1. U.S Markets closed mixed on Friday.
2. Right now , U.S Futures are trading higher.
3. Asian markets are higher.
4. SGX Nifty is indicating a gap up of 50-60 Points.
5. Over the weekend , Reliance & ICICI Bank have come up with results
6. Both these heavyweights have posted good numbers.
7. Hence the gap up opening today.
8. Nifty has tested the lower end of the range near 17500.
9. Now it's likely that after good results we might test upper end of the range.
10. 17500 -17800 was the band in which nifty was trading.
11. It was a highly ranging market.
12. With the market making many swings in this range.
13. India VIX is at all time low.
14. It had broken even 12.
15. This is a perfect recipe for option sellers.
16. Also this has to be handled very carefully.
17. Huge problem can be faced when markets move from low VIX to high VIX.
18. Premiums get shoot up instantly when this happens.
19. Have proper levels in mind and trade according to those levels.
20. Nifty might trade between 17500 to 17800 today.