Nifty tried to cross all time highs but failed. We saw a sharp fall after 2 pm.
Tata Motors gave the statement that due to chip shortage and other reasons that they”Expect negative EBIT and Cash Outflow of £1 bn in Q1″. This may have triggered the sell off.
Never mind, we are still in the range. We need a strong breakout to get out of this range otherwise we will be consolidating here for a while.
US markets also saw some action yesterday. 10 yr and 30 yr Yields fell below 1.4 and 2 % respectively.
Markets fell early in the day but recovered in the late session.
Amazon gave a pretty big technical breakout from the range formed from back August. Big tech is leading the rally now. Bezos going into space, strong prime subscriber numbers elevated the sentiments.
New lambda variant is out, God knows how many variants will come before we can live freely pre covid.
Nifty above 15900 can give big short covering. Due to low vix, options are puny little. so risk has increased on short strangles and straddles. So I’ll mostly focus on directional shorts or buys here on.