- U.S Markets closed Flat on Friday.
- Asian Markets are Mixed with a Slightly Positive Bias.
- SGX Nifty is down 50 Points and Trading near 10150.
- On Friday , Large Cap Heavyweights performed Exceedingly well.
- Reliance alone contributed 65-70 Points rally on Nifty.
- Now , Reliance has doubled from the March lows in less than 3 Months.
- This is a Phenomenal rally in such a LargeCap stock like Reliance.
- This Weekend , Glenmark announced that it has come up with a Corona Virus Testing kit etc.
- Everybody is talking about Glenmark.
- Most of the Question in my Q&A session were on Glenmark Pharma.
- India China Border issue has been Stabilised now.
- Do not expect it to take the Center Stage in Markets now.
- On Friday , Honourable PM Modi spoke about our Economy.
- This led to more rally in our Markets.
- Large Cap Heavyweights are looking very Bullish on Charts and I expect the rally to continue further.
- The pace of rally might decrease now.
- Government has increased the prices of Petrol consecutively for past 15 days now.
- Crude Oil Prices inching higher is not good for our Economy.
- This is Still a buy on dip Market.
- In Spite of many Negative news we havent broken key support zones.
- This is a strong market that wants to give upwards.
- The idea should be to trade via Options and play for upside.
- 10300 is the Resistance for Nifty and once this gets taken out we may witness much higher levels.
- Nifty is likely to trade between 10080-10280 today.
- Bank Nifty is likely to trade between 21000-21740 today.
- Focus should be on Index Heavyweights, ( Reliance , Bajaj Twins , Icici Bank etc) they might Consolidate for some time now but will keep going in Uptrend.
- 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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