- U.S Markets closed Positive Yesterday.
- Asian Markets are also Mixed with a Positive Bias.
- SGX Nifty is up 50 Points.
- We are in a Market with no follow through.
- This is a Swinging Market.
- Swinging Market is one in which Market goes to the top end of range or bottom end of the Range.
- People Start Prediciting a big Breakout or Breakdown but Market reverses immediately.
- This is a Market to trade on reversals.
- This is not a Market to trade for follow Through.
- PM Modi to Address the Nation at 4 pm today.
- When MODIJI comes at 8 pm , there is a big news.
- When MODIJI comes at Morning there is a bit of Encouragement speech from their side.
- Now the time is 4 pm , my Gut feeling is MODIJI would be speaking about Corona Virus & Lockdown.
- But most importantly , speaking about Boycotting China.
- Large Number of Youths use China Apps so the Gut feeling is a talk on that front.
- FII's were net sellers Yesterday but DII's are supporting our Markets.
- DII's were net Buyers Yesterday.
- 10200 to 10500 is the Range in which Nifty is Trading for quite some time now.
- Nifty was Unable to 10200 and it has tested this level twice now.
- Same Applies for the level of 10500.
- I will take Directional bets once any of this gets breached .
- Until then the idea is to be a Mean Reversion Trader.
- Markets have been Consolidating within this Range now for more than a week.
- Expecting some kind of range Expansion soon.
- This Market is a strong market and rewarding Contra Traders.
- Nifty & Bank Nifty Futures both Trading at a very Significant Discount.
- If follow through comes then there will be a room for big Short Covering also.
- Banking Stocks might Outperform today as HDFC Bank is coming up with fund raising and looking strong.
- Nifty might Trade between 10240 to 10380.
- 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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