- U.S Futures were down more than 2% Yesterday when Indian Markets were active.
- That was the reason of such a big fall Yesterday.
- 11000 was the place of support and that was taken away.
- Bank Nifty below 21k.
- Now U.S Futures are slightly positive so SGX Nifty has recovered from 10800 to 10900.
- Month end expiry and all longs trapped.
- Everything contributed to a huge fall in the Markets.
- FII's have been selling relentlessly for the past week.
- As I previously mentioned , September will belong to the bears and the same happened.
- Coming to October series.
- One thing is for sure , unless Nifty crosses 11200 I won't be taking long Positions.
- I will be Bullish only when major resistance areas gets taken out and we sustain.
- Because when Market falls it falls with high steam and when it goes up the speed is of tortoise.
- This is a sell on Rallies Market now.
- Sell on Rallies until you get a clear Breakout.
- Many countries Considering to Lockdown again.
- Corona Virus vaccine getting postoponed.
- Also U.S elections around the Corner.
- Everything would lead to high Volatility until Diwali.
- Will look to sell Call options in Banking stocks on Pullbacks.
- Nifty might Trade between 10800-11000 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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