Nifty hovering near 17k ( 16th March 2023)

1. U.S Markets closed lower yesterday.

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

3. SGX Nifty is Flat.

4. Asian markets are mixed.

5. Yesterday Nifty tried to retest 17300.

6. There was a rejection from this level and Nifty broke 17k.

7. Exactly as we has hinted in the blog yesterday.

8. U.S Markets when I slept yesterday were down 700 points.

9. Today Morning I saw there was a sharp recovery from the lows and they have closed just 270 points lower.

10. This recovery from the lows cannot be termed as bottom yet.

11. Trends don't change so easily and bottoms take time to be made.

12. 16800 is the next major support now.

13. All he'll would break loose once markets break 16800.

14. We might consolidate now for a few trading sessions.

15. Before there's a bigger move in the markets.

16. 17000 is the first support and next major support at 16800.

17. U.S VIX has crossed 25 now.

18. India VIX is close to 17 now.

19. The Volatility which we are having now it seems like india VIX is at 25 or so

20. Naked option selling is the worst strategy anybody could deploy currently.

21. India VIX is low so option premiums are low.

22. Volatility is insane.

23. There's no edge in the current market conditions for the same.

24. Nifty might trade between 16900 to 17200 today.

25. stockmarketadvisory.in

Comments

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