- US markets ended flat. U.S Markets have been Consolidating from last week.
- Asian markets are also Flat.
- SGX Nifty is now flat near 11270.
- Yesterday I mentioned that Friday yas just a shake off and the Trend would bail us out.
- Yesterday Markets Consolidated until 3 pm.
- Bears tried their best to pull Markets Lower but Couldn't.
- Finally in last 30 mins we Witnessed a good short covering.
- August Month has been a Month of Consolidation.
- Nifty has been Moving all over the place but mean is about 11200.
- Expecting Markets to Consolidate with a big Positive Bias.
- Reliance Underperformed Yesterday and in Spite of that Nifty closed 0.5% higher.
- This shows that Broader markets have also started to perform.
- Midcaps have been Outperforming since the March crash.
- Small caps too have been in a league of their own.
- Underperformer in this Market is Bank Nifty.
- Nifty is just 7-8% from all time highs.
- But Bank Nifty is more than 50% away from it's all time highs.
- HDFC Bank after Aditya Puri stake sale has been Underperforming significantly.
- This is still a buy on dip Market.
- There is a time to buy , time to sell and time to do nothing.
- Now is the time to buy on dips.
- Nifty might trade between 11180-11360 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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