Have we bottomed out? (30th Oct 2023)

1. U.S Markets closed mixed yesterday.

2. S&P 500 and Dow Jones closed lower whereas Nasdaq closed higher.

3. Right now , U.S Futures are higher.

4. U.S VIX closed below 20 on Friday.

5. Markets have corrected all the way from 20200 to 18850.

6. Friday was a relief rally for the Bulls.

7. Reliance came out with its set of numbers over the weekend and the numbers look good.

8. Reliance has been underperforming and dragging nifty.

9. Now it's close to the lower point of the range.

10. So it's a good risk - reward trade setting up as well for Reliance.

11. Gift Nifty is up 70-80 Points.

12. Asian markets are mostly higher.

13. Expect 18850 to be a near term bottom.

14. Once 19200 is crossed , everyone would turn Bullish.

15. We have bought 19200 monthly calls on Friday.

16. We look to hold the same unless we expect something negative to happen.

17. Once these monthly calls turn ITM then the momentum would be huge.

18. Safe traders can sell puts below 18850 for the current week.

19. All the above can be done only if you can bear the risk and have a stoploss of 18850 in place.

20. Nifty might trade between 19000 to 19200 today.

21. 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)

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Nifty hits 17k (15th March 2023)

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