Good morning

I have started a small appeal today

SGX Nifty gap up/down makes market untable and untradable for sometic traders

Please watch and share this as much as possible.

Good morning

FEAR OF HEIGHTS?
Nifty very close to all-time highs
After long time, no gap up or down
Bond yields up but Dollar Index down to 106.5
Basic texture of “Buy on dips” is intact

GLOBAL CUES
Best week for US in nearly 5 months
Biggest takeaway was strength in Nasdaq
In 2 days, Nadaq is up nearly 10%
Mean reversion trade might be on in IT space
IT, new age stocks may extend gains in India

MARKET STATS
Nifty PCR at 1.21 vs 1.06

Cash Market
FII +3958 Cr
DII +615 Cr
Total = 4573 Cr

Nifty Nov Futures
Premium at 74.30 pts vs 64.45 pts

FIIs in Index Futures
Net Buy +2982 Cr
Long +16500
Short -14400

FII Longs in Index Futures
Nov 10 53%
Nov 11 62%

NIFTY OUTLOOK
Huge Call build-up seen at 18,500
Put writers confident at 18,200 and 18,300
First major support for Nifty at 18,225-18,300
Biggest support zone for Nifty at 18,050-18,150
Buying in first support zone will be a good strategy

BANK NIFTY OUTLOOK
Bank Nifty’s move largely driven by HDFC Bank
Today could be a profit taking day on Bank Nifty
Friday’s high of 42,345 will be a big resistance
Shorting Bank Nifty with 42,400 stop may work
Buy zone for Bank Nifty will emerge at 41,500

NIFTY IT OUTLOOK
Nifty IT now above 20, 50 and 100 DMA
Nifty IT needs 3% rally to test 200 DMA
Real test of IT rally would be at 200 DMA of 30,540

The setup has played out beautifully so far. Bank Nifty is weak and IT is very strong

Good morning

Market's overbought levels came down yesterday which is good