Consolidation (11th July 2023)

1. U.S Markets closed higher yesterday

2. Dow Jones closed higher whereas Nasdaq closed in Red.

3. Right now , Dow Futures are slightly higher.

4. Asian markets are mixed.

5. Gift Nifty is indicating a gap down of 50-60 points.

6. Yesterday was a very flat day for the markets.

7. Nifty traded flat within a 70 point range

8. Bank nifty traded within 200 point range for the whole day.

9. As I mentioned earlier , after a huge rally consolidation is always fruitful.

10. Markets cannot keep on going higher on a daily basis.

11. Consolidation indicates Bull run is intact and has more legs to go.

12. For last 3 trading sessions nifty has been trading within 19300 to 19500.

13. Option sellers are having a good time as VIX is at multi year low

14. Option sellers who are dependent only on ranging markets will be chopped off.

15. Reason is nifty now is a 20k index almost.

16. 1% move is 200 points on Nifty.

17. 1% move is quite common in markets.

18. So now as an option seller if you have to survive you need to go with directional strategies as well.

19. Those days are gone where you sell a call a put and eat premiums easily.

20. Now you gotta be very strict with stoploss and take trades.

21. Previously nifty was a 12-13k index when majority traders started Option selling.

22. Now the scale is increasing drastically and will further increase and premiums are also low due to VIX.

23. IT Stocks all over the Globe are witnessing a sell off.

24. Nifty might trade between 19300 to 19500.

25. stockmarketadvisory.in

Comments

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Global Markets Mayhem !! (5th Aug 24)

1. U.S Markets closed lower on Friday. 2. All the indices closed lower. 3. Right now , Dow Futures are lower. 4. Asian Markets are all lower. 5. All the Global Markets are Negative today. 6. From Thursday to Monday Morning , U.S Markets have crashed more than 6%. 7. This is a terrible & an Alarming fall. 8. U.S VIX jumped another more than 20% on Friday. 9. This is the fearful data point. 10. Reason for all this is because of Geopolitical conflicts. 11. Iran - Israel tensions. 12. Japan currency depreciation etc. 13. All this is leading to a flash crash in the Markets. 14. 24500-24400 is a crutial support for nifty. 15. We are likely to open closer to these levels as per Gift Nifty. 16. First hour is the key today. 17. If we do not break the first hour low throughout the day then we might expect a reversal. 18. A further correction may be expected if the first hour low gets taken out. 19. Nifty might trade between 24300 to 24700 today. 20. stockmarketadvisory.in

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