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Lower Jobs , Markets rally !! (30th August 2023)


1. U.S Markets closed higher yesterday. 
2. Right now , Dow futures are marginally higher. 
3. Asian markets are higher.
4. Gift Nifty is up 70-80 points.
5. For 3 consecutive trading sessions,  U.S Markets were higher.
6. This is a rare feat in August series.
7. Yesterday the U.S Jobs data were announced & the same were lower than expectations. 
8. As they were lower than expectations,  the rate hike probability is reduced.
9. On this news , there was a huge short covering rally in U.S Markets.
10. Our Markets were choppy yesterday and were trading within a trading range.
11. 19300 PE has the highest open interest among Put Options.
12. 19400 CE has the highest open interest among the Call Options.
13. For the whole day yesterday,  Nifty was hovering within this range.
14. Bank Nifty too was quite flat.
15. Premiums are so low that one doesn't wish to sell options.
16. There is not much momentum to buy Options.
17. So just waiting and trading near the boundaries is the best strategy for this expiry.
18. Bank Nifty looks stronger than Nifty.
19. Nifty might trade between 19300 to 19450 today.

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