- U.S Markets closed a Percent higher Yesterday.
- Asian Markets are Mixed with a Positive Bias.
- SGX Nifty is up 40 Points and Trading near 10220.
- U.S Markets are Nasdaq are now Trading near their all time high.
- Yesterday Nifty Witnessed a big Gap up at the open & was Consolidating for the first half but soon the selling resumed.
- It was not severe kind of selling which changes the Trend.
- It was just a minor profit booking.
- The Trend of the Market is still Positive but we may not go higher with the pace as we have done before.
- This will be a calm and collective upward journey and one needs to be very patient to ride it.
- After a huge rally of Nearly 1200 Points in about a week we are just Consolidating, buliding a base for a fresh rally.
- Corrections like Yesterday are important and keep the Market healthy.
- Markets should never go up or come down in a Straight line.
- FII's were net Buyers Yesterday but DII's were net sellers.
- DII's are Witnessing profit booking since a couple of days and FII's not Stopping to pump in money.
- There is a clash between these two so there is Indecisiveness in the Markets.
- Titan came out with good Results Yesterday as it were better than Street Expectations.
- PVR reported a ₹ 77 crore loss for it's first quarter.
- Hero Moto Corp is coming up with it's results today and it is going to be a decider for Auto Stocks.
- The Broader range for the Nifty is 10000 to 10350.
- Nifty is likely to trade within this Range for this Expiry.
- Even if this Range breaks high chances are breaking on the Upside.
- Yesterday selling pressure was Witnessed in the Markets due to selling pressure in Index heavyweights.
- ITC , HDFC Bank & Reliance dragged the Markets lower.
- Once Reliance Crosses it's all high of 1618 it can push the Nifty higher for a Breakout.
- So my View for the Markets remains of "Consolidation" with a Positive Bias.
- Corrections like Yesterday raise questions in Traders mind that has the Trend changed?
- It gets weak shorts into the System and Eventually they are trapped.
- Mentioned Yesterday that Bank Nifty will Outperform and it will continue to Outperform the Nifty.
- IT Stocks are showing good strength and they can be looked for Intraday basis.
- Intraday the Trade is to sell near 10300 with a Stoploss of 10350 and buy near 10100 with a Stoploss of 50 Points and play for Reversal.
- Positional / Short term Traders the trade is to keep buying Call Options on every dip and keep building positions on the Upside with a Stoploss of 10k.
- 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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