- US markets closed lower but recovered a lot more from lows.
- Asian markets are mostly Flat.
- SGX Nifty is around 12880 almost near Yesterday closing.
- Yesterday Markets were Volatile in first half but recovered in second half.
- India VIX was up 7% in first half Yesterday.
- Reliance below 2000 now.
- I've observed in past few months , Reliance doesn't sustain below 2000 for long.
- As soon as it goes below 2k buying Emerges.
- Banking Stocks are in a league of their own.
- Bank Nifty outperforming Nifty now.
- Also carrying NIFTY along with it.
- When Bank Nifty dominates Nifty Volatility is expected.
- As Bank Nifty is a Heavy weight.
- FII's buying heavily for 8th Straight trading Session.
- They have bought more than 35k crore now in last 8 Trading sessions.
- As long as FII's continue to buy in such huge Numbers , Markets will not correct heavily.
- Yesterday was a good day of Consolidation.
- Short term range for Nifty is between 12800-13000.
- Expect this expiry to be between this range.(Weekly)
- November Expiry I'm expecting it to Be bullish.
- Unless any Fresh news comes in this is the expectation as of now.
- Intraday traders should look to buy near 12800 with 50 Point Stoploss and sell closer to 13k with 50 Point Stoploss at spot levels
- If extremes don't come then do not Trade.
- There is no compulsion to trade everyday.
- Nifty might Trade between 12800-13000.
- 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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