- U.S Markets closed flat Yesterday.
- Asian Markets are higher now.
- Dow Futures are higher.
- SGX Nifty is Trading near 17150.
- Yesterday Nifty broke out of 17k.
- From past many Months I've been observing that Market makes a big move in first two weeks.
- Last few weeks there's Consolidation.
- This Month is no different.
- September expiry is a long expiry of 5 weeks.
- In the first week itself Nifty has witnessed almost 500 points rally.
- Bank Nifty did not participate in Yesterday's rally.
- India VIX was up 10% Yesterday even when Markets were roaring higher.
- This proves the fact that VIX doesn't rise only in falling Market.
- Even in rising Market , if Market goes up too fast in too less time then Call writers will be trapped.
- They would then look for cover to cut losses.
- This takes Market even higher.
- 17000 CE had the highest Open interest in weekly expiry.
- As soon as we breached 17k we witnessed a massive short covering.
- Today I expect a Consolidation on Nifty with slightly positive bias.
- Yesterday I mentioned that After GDP data Market might cross 17k.
- This turned out be wrong as Market crossed 17k Yesterday itself.
- Nifty might Trade between 17000 and 17250 for this Expiry & today as well.
- stockmarketsdvisory.in
1.U.S Markets closed higher Yesterday 2. U.S Futures are trading higher now. 3. Asian markets are higher. 4. Global cues are positive currently. 5. U.S Markets have made a short term bottom and now have reversed. 6. Gift Nifty is up more than 100 Points. 7. Yesterday was a big surprise to everyone. 8. Contrary to the exit Poll , things have been changed dramatically. 9. Exit Polls indicated a cakewalk win for the BJP. 10. Reality of the Ground level was entirely different. 11. There is BJP Govt forming but with a Coilition Govt. 12. Coilition Govt changes many aspects. 13. Firstly , the Govt cannot take decisions on its own. 14. It has to get approval of other parties as well. 15. This would hamper the growth prospects and future plans. 16. Last 10 years , the Government had come with a simple majority. 17. They worked freely. 18. This is a way good for democracy 19. One Govt dominating is not good for the Country , now everyone has to work for welfare of Country...
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