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Peak Volatility !! (12th Sep 24)


1. U.S Markets were highly Volatile yesterday 
2. Yesterday U.S CPI data were out and they were mostly as per expectations. 
3. U.S Markets being Volatile in nature reacted violently to it 
4. At one point of time , all the indices were down around 2% .
5. U.S VIX was up 15%
6. Then Dow & S&P 500 took supports at their previous low and rallies.
7. The short covering rally was so huge that all Indices closed in Green from being negative 2%.
8. Nasdaq closed 2% higher , S&P 500 closed a percent higher whereas Dow closed flat after recovering all Intraday losses.
9. Why am I highlighting all this is because it will be relevant for today expiry.
10. We have an interesting expiry coming up today.
11. Yesterday due to fierce selling in the final hour , option sellers got scared.
12. They have sold calls aggressively.
13. 25000 CE of today expiry has been written aggressively today.
14. It had added huge open interest yesterday. 
15. If 25k gets taken out and Nifty sustains above it , we could easily have a quick 100 point short covering rally.
16. Current state of market feels like markets don't want to go anywhere. 
17. They just want to consolidate but that's happening with some Volatility. 
18. 24750 to 25250 is the bigger range & I expect Nifty to trade within this range for some more time. 
19. Nifty might trade between 24900 to 25200 today

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