- US markets closed a bit higher Yesterday.
- Dow Futures is Trading Mindly Negative now.
- Asian markets are a bit Negative.
- SGX Nifty is Trading near 11100.
- Last 20 days , Nifty has shot up more than 1000 Points.
- This was a brisk one way rally in the Markets.
- Markets cannot keep going at the same pace.
- A small correction of 100-200 Points on Nifty & 400-600 Points on Bank Nifty is due.
- When will this correction happen? No idea but it would be good as it would shake out weak longs.
- 11200 seems Difficult to cross for Nifty & 23000 seems Difficult to cross for Bank Nifty for now.
- Expecting today Expiry to be Rangebound with Big Swings within the Range.
- Expecting the Range to be between 11000-11180 unless anything major event pops up in Global Markets.
- FII's were net Buyers Yesterday so Markets won't fall very Big from here.
- "Correction" is Different from "Crash" please note.
- Expecting a very Volatile Expiry within the Range.
- So one can sell Call options at the higher end & sell Puts at the lower end.
- If this range breaks , then we could see Trending move.
- Which Seems a big Unlikely as of now.
- Reliance has Crossed 2k mark and that has had a Phenomenal rally.
- Small correction of 100-150₹ in Reliance would be likely from here.
- Bank Nifty might Trade between 22400 to 23000 today.
- Consult your Financial Advisor and Trade on your own risk.
- 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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