- US markets closed on a Flat Note Yesterday.
- Asian Markets are also witnessing some Profit Booking after a Fantastic rally.
- SGX Nifty is 40 Points higher and Trading near 10050.
- Nasdaq hit an all time high Yesterday but closed lower by EOD.
- Yesterday some Unusual Thing Happened in Options Market.
- Bank Nifty Options for weekly Expiry were not showing the True prices.
- One tick was showing ₹60 and next tick ₹95 etc etc.
- Many BROKERS closed Market orders , many Bank Nifty Traders lost huge Yesterday.
- NSE is still Silent to this issue. They should come out & Admit this issue.
- Amidst all this , another Big news Came for Banking Stocks Yesterday.
- There was a Petition being filed in Supreme Court for waiver of interest for Businesses.
- Supreme Court was firm to waiver off the interest.
- RBI said ₹2 lakh Crore will be lost if interest is waived for Businesses.
- There seems to be a clash going on between SC & RBI now.
- After this news broke out all Banking Stocks started to fall.
- Expect Bank Nifty to unperperform in the wake of this news.
- My Long Term Recommendation , Reliance Stabilised the Market Yesterday & closed 2.5% Higher or else there would have been a bigger fall Yesterday.
- Another Positive News for Reliance Shareholders.
- Abu Dhabi Fund Mubadala has Invested ₹9093.6 crore in Reliance Jio Platforms.
- FII's were net Buyers Yesterday and DII's continue to sell.
- Expecting Markets to be Consolidating for some time now.
- Global Markets are Positive but local cues for Banks are not that Great.
- Without the Help of Bank Nifty , Nifty cannot keep going ahead.
- So the larger Range for Nifty is now between 9800 to 10200.
- Expecting this Range to remain for some time now.
- Intraday range is 9950 to 10150.
- U.S VIX is now below 25 and India VIX is still above 30.
- Expecting India VIX to fall below 25 in coming days which will be good for Hedge Traders .
- Bank Nifty seems weak and is in a sell on rise zone.
- Do not carry any Positions over the Weekend.
- 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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