- US markets closed Flat Yesterday.
- Dow Futures now are mildly positive.
- SGX Nifty is Trading near 13250.
- Markets all over the world are going through a Consolidation phase.
- Yesterday expiry was also very flat.
- Nifty moved within a range of 60-70 Points only the whole Yesterday.
- Bank Nifty is unable to cross 30k.
- 12200 seems a conjession zone for Nifty.
- If we get a closing above any of these levels.
- Then it is a confirmed Breakout.
- Yesterday Nifty Futures were Trading at 70 Points Premium compared to spot.
- Yesterday HDFC Bank corrected as RBI restricted then to issue credit cards due to which Bank Nifty corrected and which also had a slight impact on Nifty.
- If it was a negative news for HDFC bank it was positive for SBI cards as it gained 5%.
- Going by the data Market looks Bullish again.
- Today if we get a closing above Resistances then it would be apt to buy calls or sell puts.
- Another Important factor to note today is RBI Policy which is at 10 AM today.
- So Bank Nifty might be Volatile for 1 hour today.
- PSU Banks are outperforming private Banks.
- SBI was up 4% Yesterday.
- Nifty might Trade between 13110 to 13280today.
- stockmarketadvisory.in
- Question of the day by MR. Nikhil.
- What is Support and what is Resistance?
- Support, or a support level, refers to the price level that an asset (Stock , Index etc) does not fall below for period of time. An asset's support level is created by buyers entering the market.
- On Wednesday Nifty made a low of 13000 and bounced back from there so for swing & short term traders who wish to go long can keep a Stoploss below 13k
- Resistance, or a resistance level, is the price at which the price of an asset meets pressure on its way up by the emergence of a growing number of sellers who wish to sell at that price.
- All time high for Nifty is around 13220 & Nifty has retraced many times from this level.
- So this is a Resistance
- Closing below Support is known as Breakdown & Closing above Resistance is known as Breakout.
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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