1. U.S Markets closed higher yesterday. 2. Asian markets are higher right now. 3. Right now , Dow futures are higher. 4. U.S VIX crashed 4% Yesterday. 5. Gift Nifty is indicating a gap up of 40-50 points. 6. The next big trigger for our Markets is the State Elections. 7. It has the capability to move the markets by 2-3% 8. Markets have been stable for last 2-3 trading sessions. 9. Largecap stocks also look like they are stabilizing right now. 10. Reliance seems to have made a short term bottom near 1250. 11. I have sold 1200 PE of Reliance for November expiry. 12. Will do adjustments only if it closes below 1250. 13. Otherwise will let the profits run. 14. Yesterday's low of 23350 around is now a good support to work with. 15. Tomorrow is a local holiday due to voting. 16. As Markets are oversold , traders wouldn't like to carry their shorts before a big event. 17. Expect some short covering rally in the 2nd half today. 18. This is a sell on rally Market currentl
1. U.S Markets closed lower on Friday. 2. Asian markets are mixed right now. 3. There was some profit booking after a bug rally in U.S Markets. 4. U.S VIX crossed 15 on Friday. 5. Gift Nifty is indicating a gap down of 80-100 points. 6. The next big trigger for our Markets is the Maharashtra state elections. 7. It has the capability to move the markets by 2-3% 8. Over the weekend there were reports floating around that CLSA has increased India allocation. 9. Goldman Sachs has also in an interview said they are Bullish on India. 10. The issue here is we should not get overexcited immediately. 11. They might keep selling for a while even after such statements. 12. Focus on price action and levels to decide trading strategies. 13. Do not decide based on such statements. 14. Majority of the largecaps are already down 20-30% from the peak 15. All these are providing a good opportunity to enter. 16. A reversal is due anytime in the markets as we are at highly oversold levels. 1