- US markets closed lower yesterday.
- Asian markets are also lower.
- SGX Nifty is down by more than 100 points.
- New Corona Virus and Senate Election for two seats are the reasons for huge profit booking.
- These issues leading to a big fall.
- Yesterday the Markets were quite Volatile.
- From a big gap up it got immediately sold into but also recovered by EOD.
- Markets all over the world are trading near all time high.
- So any negative news, markets can fall 5 to 10%.
- Time to be cautious now.
- Here in India, IT stocks did very well.
- Most IT stocks hit fresh all time high.
- Metal index was up 5% yesterday.
- Though Nifty fell 200 points intraday, entire loss was recovered to close at higest point of the day.
- Usually that is a bullish sign.
- But since US markets fell, SGX Nifty indicating about 100 points gap down.
- Bank Nifty future closed more than 150 points premium to spot price.
- This Indicates Bullish signs.
- Midcaps and small caps out performed.
- Banking is the only sector that closed flat.
- Yesterday Bank Nifty was flat but Nifty closed higher.
- FIIs are net buyers for about Rs 1500+ crores.
- DII's are net sellers for 4th month now.
- U.S Markets have recovered quite well from lows.
- So today will be interesting day to watch out.
- If we defend 14000 then we might close higher but if we go below yesterday's low in first hour then selling pressure will accentuate.
- Nifty might Trade between 13980-14220 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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