- U.S Markets were down 0.5% on Friday but now Dow Futures are Trading higher by 0.5%.
- Asian Markets are Mindly Positive.
- Also Asian Markets are not reacting to U.S Markets
- SGX Nifty is Trading near 11210.
- On Friday there was a gap down of more than 100 Points on Nifty and Bank Nifty was down 500 Points at one time.
- But Markets recovered Sharply from there on & closed near the highs of the day.
- This shows that the Bulks are in control of things now.
- FII's have been Contineously buying and as long as they buy markets cannot go down much lower.
- Another stock which is not looking to stop is Reliance.
- Everybody is waiting for a correction in Reliance but there has been no Opportunity.
- Everyday it is Witnessing new highs.
- 11050 to 11250 is the short term range for Nifty Currently.
- Once 11000 is broken we will get sharp towards Downside or if 11300 is taken out we might Witness sharp Momentum on the Upside.
- Until then Markets will just move within this range.
- ICICI Banks results were announced over the Weekend and the results look good.
- Asset Quality has improved Significantly.
- Interesting to see how this stock performs today.
- ITC also has come out with above average results.
- Generally , in Monthly Expirys , Big moves come in 2nd half of Tuesday.
- I would be waiting for that Big move to come in to Trade into.
- Until then it should be fairly Rangebound Market.
- Trend is Positive so it is a buy on dip market until 11000 is broken.
- Nifty might Trade between 11140 to 11300 today.
- 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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