- U.S Markets closed higher Yesterday.
- Right now Dow Futures are lower.
- Asian markets are mixed.
- SGX nifty is up 70-80 points.
- Yesterday U.S GDP was announced.
- Estimates were -1.2% but it actually came in at -1.5%.
- So it was clearly worse than expected.
- In spite of the same U.S Markets rallied yesterday.
- Price action depicts that the news has already been factored in.
- Yesterday as expected Nifty traded within 15900 to 16200.
- But there were massive swings Intraday.
- As soon as Market opened with a gap up there was immediate selling.
- From 15900 Nifty made a huge short covering and rallied 300 points.
- Before yesterday for last 3 trading sessions Nifty was having recoveries of 100-150 points Intraday but all those were sold into by end of the day.
- Acticipating similar action yesterday , many traders have sold call options and these options went 7X-10X in no time.
- 16050 CE made a low of 6rs yesterday at 12 and closed at 120.
- Buyers have benefitted a lot and sellers got ruined.
- Clearly the Market is dangerous for option writing now so you have to focus on buying strategies or spreads would work the best.
- One should understand and adjust to market conditions than being stubborn.
- Nifty might Trade between 16100 to 16400 today.
- Nifty is in a range of 16k to 16400
- Big move would come only if any of this gets broken until then there's only consolidation.
- 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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