- US markets ended flat on Friday.
- Asian markets are also Flat.
- SGX Nifty is Trading around 11200.
- From last 2 weeks Markets have been Trading within a fixed range.
- Downside level is around 10900 & on the upper side it's around 11250.
- Within this 350 point Range Markets have been very Volatile and are giving big Swings.
- Big move is expected only after this range breaks.
- Either on the Upside or Downside we can expect big Moves.
- Today is a very major event lined up for our Markets .
- Supreme Court AGR Case event.
- This event was Postponed since few Months but today we might get final hearing.
- This event is important as few banks are also involved in it .
- Bank Nifty has about 20-25% weight in Nifty so this should be kept in mind.
- Markets are likely to be highly Volatile today.
- With VIX falling in last few days there was hardly any scope for Short Straddle.
- Today if VIX rises I Might take a short Straddle of 11200 Nifty August Expiry.
- Another Important event today is Titan Results .
- Many Credit Rating Agencies and Brokerages have downgraded Reliance.
- Some have even given a target of ₹1300 and is Totally illogical.
- Reason is simple , they want to Manipulate prices and want to buy it lower for their clients.
- Pharma Shares have come up with good Results over the Weekend.
- So Pharma theme may continue to play out.
- Nifty might Trade between 11120-11280.
- 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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