- US markets closed on a Mild Positive Note on Friday.
- Asian markets are also Mildly Positive.
- SGX Nifty is down 60 Points & Trading Near 9085.
- News Came over the Weekend that Lockdown has been extended all over the Country upto 31st May 2020.
- On Friday FIIs sold Greater than 2200 Crores.
- The FII Data Clearly Indicates that they havent liked the STIMULUS package from the Government.
- On Friday , Nifty again had a Retest of 9050 but reversed from there.
- Market is in a Consolidation Mode in May Series & Boundaries are not easy to be taken away.
- Meanwhile Reliance Industries has bagged another Cheque from General Atlantic (U.S Company ) for 1.3% stake in Reliance values at ₹6598 crore.
- This is the Fourth Cheque bagged by Reliance from the beginning of this Lockdown.
- Reliance is a stock which everyone should have in their Long Term Portfolio & can start Accumulating on small Declines / Dips.
- Markets are not ready to React on any Short term news being thrown on it for now.
- Currently , Im neither Bullish nor Bearish.
- If we get a closing below 9000 or above 9500 on Nifty then I will turn Bearish or Bullish.
- As Long is this Range Continues I am Neutral.
- Surprisingly , even when Markets are Negative the Call Premiums are Significantly higher Compared to Put Premiums.
- This Indicates that we might not fall Significantly from here.
- Sold 210CE , 200CE , 190 CE &150 PE for SBI May Series.
- The Trade now is to play for a Reversal in Nifty from it's lower Range of 9000-9050.
- If these levels are taken out in Intraday and we get a closing below 9000 then we can expect more Bearishness.
- Bought 9200 CE , Sold Double the Quantity for 9400 CE.
- Defence & Aviation Stocks might be in focus today as Economic Package contained some positive Outlook towards those Sectors.
- Bajaj Finance , Finserv are likely to Announce Results this week.
- stockmarketadvisory.in
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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