- US markets ended Positive on Friday.
- U.S Markets are making fresh highs almost on daily basis now.
- Asian markets are mostly positive.
- SGX Nifty is higher by about 15 Points.
- Friday , the Markets have opened with a huge gap up but the gap ups are Unable to Sustain.
- This is a no follow through market.
- There is no follow through & it's lagging.
- Also , Markets are Trading within a tight range.
- On Friday , Nifty Traded in the range of just 40-50 Points.
- This is because VIX was below 20.
- I feel that India VIX was made a double bottom near 19.5 and has bottomed out.
- FII's were net Buyers whereas DII's were net sellers on Friday.
- Monthly expiries are always Volatile.
- A big move is expected on any side of monthly Expiry.
- My view is Bearish with a Stoploss of 11500.
- Pharma Sector looks topped out and not much steam left there.
- Auto Stocks are Outperforming and may continue to do so.
- Bank Nifty might continue to Underperform the Nifty.
- Nifty might Trade between 11340 to 11480 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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