Market View: 24 Apr 2024
What happened in last 24 Hours:
1. Strong US earnings data pushes the USA Indices higher (more than 1%).
2. India VIX crashes nearly 20% in a single day, indicating stability and reduced volatility (as of now)
3. India’s Composite Flash PMI for April indicates stronger economy.
4. IMF expects India to become 4th Largest economy by 2025.
5. FIIs+DIIs are not budging from their net short positions in Index Futures. They jointly hold 57% short positions and 30% long positions.
6. It is expected that Indian Market will follow the global course and open in green. However, FIIs net selling in cash segment was worth over Rr 3000 Cr yesterday and given the fact that they are also holding net short positions in Index Futures, heavy selling at higher levels can not be ruled out.
7. On Nifty 15 min chart, the last Signal is ‘Buy’ but price is within consolidation zone. You can consider taking long positions when price goes out of the cloud area. Do not keep any position open when price is within consolidation zone because that is the area where maximum theta decay happens and option buyers lose most of their capital.
8. Happy Trading.
1. Strong US earnings data pushes the USA Indices higher (more than 1%).
2. India VIX crashes nearly 20% in a single day, indicating stability and reduced volatility (as of now)
3. India’s Composite Flash PMI for April indicates stronger economy.
4. IMF expects India to become 4th Largest economy by 2025.
5. FIIs+DIIs are not budging from their net short positions in Index Futures. They jointly hold 57% short positions and 30% long positions.
6. It is expected that Indian Market will follow the global course and open in green. However, FIIs net selling in cash segment was worth over Rr 3000 Cr yesterday and given the fact that they are also holding net short positions in Index Futures, heavy selling at higher levels can not be ruled out.
7. On Nifty 15 min chart, the last Signal is ‘Buy’ but price is within consolidation zone. You can consider taking long positions when price goes out of the cloud area. Do not keep any position open when price is within consolidation zone because that is the area where maximum theta decay happens and option buyers lose most of their capital.
8. Happy Trading.
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Our Telegram Channel: @CheetaTrader
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