1. U.S Markets closed lower yesterday. 2. Right now , U.S Futures are slightly higher. 3. SGX Nifty is down 50-60 Points. 4. Asian markets are mostly down. 5. Yesterday was a rangebound day. 6. Nifty moved vigorously after market opening Yesterday. 7. It was trading in a tight range of 100 points or so 8. FII's were net buyers yesterday. 9. After having sold aggressively on daily basis ,they took a pause yesterday. 10. That might be due to the FED event. 11. They might have preferred not to carry any trades going into the event. 12. Yesterday FED raised interest rates by 25 basis points. 13. The Commentary was also Hawkish as the FED governor raised concerns of Banking crisis. 14. Though he gave assurance that there's lot of liquidity etc market fell after the event. 15. Market swung yesterday before the event and more so post the event. 16. FED'S action of raising the rates despite the ongoing banking crisis instilled fear amount the investing community. 1
1. U.S Markets closed higher yesterday. 2. Right now , U.S Futures are slightly higher. 3. SGX Nifty is up 20-30 Points. 4. Asian markets are mostly mixed. 5. Yesterday Nifty did retest the previous low of 16850. 6. Intact nifty broke 16850 and went another 20-30 Points lower. 7. During the end of the day there was a short covering rally witnessed. 8. Global markets are in turmoil. 9. Last 2 days markets have shown very good resilience. 10. U.S VIX has collapsed 10% in last 2 trading sessions. 11. With all major indices closing at the highest point of the day. 12. It seems like a short term bottom has been made for now. 13. 16850 is the short term bottom for now. 14. This is just a reversal /pullback rally. 15. This aint a trend reversal rally. 16. Trends don't change so easily & quickly. 17. This pullback could extend upto 17200-17250. 18. We have monthly expiry approaching as well. 19. There are 5-6 trading sessions left now for monthly expiry. 20. Last week i