Huge Short Covering (3rd April 2023)

1. U.S Markets closed higher on Friday.

2. Right now , U.S Futures are trading mixed.

3. SGX Nifty is indicating a gap up of 30 points today.

4. Asian Markets are mostly higher.

5. Friday was the mother of short covering rallies.

6. First itself markets had opened 200 points higher.

7. This was in itself a huge gap up opening.

8. As soon as Markets opened , markets kept making new highs during the day.

9. So it was a huge trending day.

10. I didn't expect such a huge short covering rally.

11. Also this rally wasn't on the back of any such news.

12. Markets always tend to surprise you.

13. Many people are saying that due to financial year end traders would like to square up positions.

14. For closing of their accounts hence the big rally.

15. This might also be a Possibility.

16. Now the Markets have broken the swing high of 17300 and closed higher.

17. 17200 is now a support for the markets.

18. Next resistance is now at 17500.

19. Bank Nifty also looks quite Bullish right now.

20. This is as of now a pullback rally and not a trend reversal.

21. 17200 to 17500 is the range for nifty now.

22. After such a huge trending day on Friday possibilities of another trending day today is minimal.

23. India VIX is now below 13.

24. Today could be a flat / consolidation sort of day.

25. Nifty might trade between 17200 to 17500 today.

26. Option premiums are low but the Volatility is still higher.

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 (2nd Feb 2022)

1 U.S Markets closed lower Yesterday. 2. Right now , dow futures are lower. 3. Asian markets are mixed. 4. SGX Nifty is down 150 Points. 5. Yesterday was the Fed event in U.S 6. It was expected that they would raise rates by 25 basis points. 7. The same happened yesterday and in spite of that Markets crashed yesterday. 8. Yesterday was a highly Volatile day. 9. Markets were all over the place yesterday. 10. Before the budget , markets were higher. 11. During the budget , markets were flat. 12. After 1 pm markets were at the peak of Volatility. 13. Bank Nifty was down 1000 points by 2.45 pm. 14. In next 30 minutes it recovered all of its losses. 15. The budget was neither good nor bad. 16. The income tax slabs have been revised but also the insurance benefit has gone. 17. All the Insurance companies crashed yesterday. 18. This is a structural change coming out of budget now. 19. Adani stocks crashed yesterday. 20. So clearly there was valuation over hang which is gettin

Nifty hits 17k (15th March 2023)

1. U.S Markets closed higher yesterday. 2. Right now , U.S Futures are lower. 3. SGX Nifty is up 80-100 points. 4. Asian markets are mixed. 5. There has been 4 days of relentless selling in our Markets 6. The reason doesn't seem to be Banking collapse in United States. 7. U.S Markets have settled after a knee- jerk reaction. 8. Our Markets haven't settled yet. 9. This isn't a selling like the previous ones. 10. Previously FII's used to target few nifty stocks 11. Used to sell them and create panic. 12. This selling is now an all around selling. 13. Broader Markets have been bleeding extensively. 14. There is pain all around. 15. Now 17300 becomes a very important resistance. 16. Nifty might retest 17300 and then break 17k. 17. Markets won't collapse in a hiff. 18. There would be intermittent rallies in between to take weak shorts out. 19. FII's have now been selling aggressively. 20. Nifty might trade between 17000 to 17300 today. 21. stockmarke

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