- U.S Markets were down 2% in the First Half of Yesterdays Session but closed 1% higher.
- Asian Markets are Mixed.
- SGX Nifty is Trading near 9130.
- So far in May Series Nifty has been trading in a broad Range of 9000-9500.
- Within this Range Nifty is very Volatile.
- While Everybody was Optimistic about the 20 lakh crore ECONOMIC PACKAGE.
- For me it's a mere Eyewash.
- Markets has given all the Gains due to Economic Package sentiment and are now Trading even lower than their previous levels.
- WHO ( World Health Organisation) announced Yesterday that Corona Virus is here to stay for life.
- General Fact : EBOLA was the Virus for which the Vaccine had been developed the Fastest in the History of the World.
- The Vaccine took a record low timeframe of 4 Years to be developed and Implemented.
- Corona Virus Vaccine to be developed in 1-2 Years seems highly Unlikely.
- FII's have been Net Sellers Yesterday and have sold more than 2000 Crores.
- DII's were Net Buyers and bought around 800 Crores.
- DIIs bought for Rs 802 crores.
- Nifty Expired almost at the same level of 7th May with Big Volatile moves in between.
- India VIX continues to fall despite such Volatility.
- Yesterday During Market hours News was announced that Railways all refunding all the Tickets booked upto June 30 for all Passenger Trains.
- This might be a sign of extension of Lockdown.
- IT Sector fell more than 3% Yesterday , Reliance silently has fallen 10% for this Week.
- Leadership from any of the Sector seems lacking for Nifty.
- Bank Nifty continues to Underperform.
- Nifty might trade between 9000-9200 today.
- As long as Nifty Trades between 9000-9500 we are in a Rangebound area.
- Once 9000 is Breached and Sustained we can expect a fall of 100 points and next support is near 8900.
- PSU banks remain weak and can be good selling Opportunities for today.
- stockmarketadvisory.in
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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