- US markets ended 2% lower Yesterday.
- Asian Markets are also Trading Negative.
- Brent Crude is now below $20 per Barrel.
- SGX Nifty is now Trading Near Yesterdays low ie , 8900.
- Yesterday Reliance recovered 7% from lows & Stabilised the Markets by the day end.
- Today , there is news that Facebook is going to acquire about 10% stake in Reliance Significantly to cut Debt.
- Talk of the Town is Reliance Industries & it will be under the radar for Today's Trading Session.
- Financial Companies ( Banks , NBFC's) are in a Bear Market of their own.
- Bajaj Finance was down 10% Yesterday after already witnessing a 50% cut from it's All time high.
- Insiders know certain things from before & price action on the Stock happens before we hear the news in Indian Stock Markets.
- U.S Markets previously recovered more than 50% from retracement levels.
- Indian Stock Market retracement comes near about 9800 on Nifty.
- Markets are Still Rangebound & have been Trading in a Broad Range of 8800-9350 on Nifty.
- Today , the Bias is more on the Negative side but Reliance will continue to hold Nifty from falling sharply.
- Trump Suspends Immigration Temporarily for 60 days.
- We are in a very Weak Market.
- There is Absolutely no Follow through , Markets are highly Sluggish & Rangebound.
- The way to trade these Markets is to not hold your Positions for too long & wait for Follow through.
- Keep Booking Profits as you get.
- Holding your Positions for long when Markets are in a Rangebound zone can reverse the Markets sharply.
- Reduce your Position sizing to 66% than what you do Normally.
- This way you can manage the risk of being Chopped from the Market.
- Nifty might trade between 8800 to 9100.
- Yesterday I mentioned that once if 9000 breaks we might Witness 8800 in few trading Sessions.
- Once needs to Develop Extreme patience , focus on Trading on either side ( Buy or sell) & wait for your levels to come.
- If you dont follow it , chances are you will be Trapped on both sides.
- 8900 was Witnessed Yesterday & the above view still holds good.
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1. U.S Markets closed lower on Friday. 2. Dow Jones was flat. 3. Nasdaq was the underperformer. 4. Gift Nifty is down 30-40 Points. 5. Asian markets are mostly lower as well. 6. Friday the Nifty opened with a gap down of 200 points. 7. Within the next 10 minutes , Nifty recovered 100 points. 8. Bulls expected recovery is on the cards but Nifty started to Crack. 9. Bank Nifty was holding up Nifty for most of the while. 10. It couldn't be able to provide much of a support and Bank nifty also began to correct. 11. The issue now is market has had vertical rallies. 12. One way quick rallies so now the downfall will also be vertical. 13. When markets go up quick , they come down quicker. 14. Infy dragged the mood and also HUL didn't post extraordinary results so it was also a laggard. 15. Banks tried hard to hold the markets but couldn't. 16. Over the weekend , AU Bank and icici bank reported very good numbers. 17. These banks have already rallied a lot before results
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