- US markets closed higher Yesterday.
- Asian Markets are Mindly in Green.
- SGX Nifty is down by about 40 points.
- Yesterday our Markets have Rallied about 200 Points.
- Rally was mainly because of 2 stocks.
- Reliance and HDFC Bank.
- RBI Approval for New Chairman in HDFC Bank Triggered rally.
- Reliance was up 7% Yesterday Majorly due to Short covering and some deal wins news round the corner.
- Markets have taken support the Important level of 10850 which I mentioned in the previous blog.
- From there it has reversed significantly and Rallied by about 200+ Points.
- Expecting a bit of Stabilisation & Consolidation today.
- RBI Policy is due Tomorrow and that would be an Important event to watch out for.
- Yesterday Surprisingly FII's turned Buyers whereas DII's remain sellers.
- Bank Nifty has not Participated in the rally yet.
- Yesterday Majorly due to HDFC Bank there was a big rally in the Banking stocks.
- After this Big rally the Question is what more from here?
- I expect some Consolidation today ahead of Weekly Expiry.
- Short covering set in Yesterday , Markets have Rallied and was fine.
- Today Markets might Consolidate ahead of RBI Policy.
- Sold 10850 PE and 11250 CE Weekly Expiry.
- Expecting Markets to trade within this Range for the Expiry
- Also VIX is now below 24 so Volatility is reducing with each passing day.
- Sold 20500,20000 Bank Nifty PE.
- All my Trades are of Weekly Expiry.
- Nifty might Trade between 10980-11140 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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