- US markets closed Flat on Friday.
- Today Asian markets are also Flat.
- Markets are in a Consolidation zone.
- They are waiting for some big Announcements like Stimulus , Elections , Corporate Results etc.
- SGX Nifty is also Flat.
- There are many Negative news floating around.
- RBI Governer Shaktikanta Das has been tested positive for Corona Virus.
- U.S Government stimulus deal has not happened.
- Corona Virus patients increasing in U.S , Emergency being declared in Spain as Second Wave starts to intensify.
- There is also News floating around that Kotak Bank is looking to acquire IndusInd Bank.
- This seems more of a rumour now.
- Kotak Bank should come up with a official confirmation soon.
- India might also witness second wave of Corona Virus by November End.
- Remember, Second Wave of Corona Virus is doubly Deadlier than First Wave.
- This week is very Important for the Markets.
- As majority of the Nifty companies are coming up with it's results.
- We will continue to trade in the range 11780-12000.
- If any of these levels breaks and we get closing above that , then we might witness follow through.
- So we are likely to trade on a sideways zone for a couple of sessions.
- Monthly expiry Market Generally gives a big move.
- One needs to wait for that and not get trapped while markets Consolidate.
- Nifty might Trade between 11780-12020 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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