- US markets closed flat.
- Asian markets are mindly higher.
- SGX Nifty is up 30-40 Points.
- Yesterday Nifty was up 140 Points at one point of time.
- In last hour we witnessed severe profit booking.
- Bank Nifty fell 600 Points in last hour.
- Nifty fell 200 Points.
- This can be construed as Markets are unwilling to go much higher from here.
- Also the downside in limited.
- Yesterday was a good Consolidation day.
- Nifty almost closed where it had opened.
- Going forward there would be Consolidation with Volatility.
- Few frontline heavyweights contributed to the fall Yesterday.
- ITC and Reliance fell 2-3% each.
- Bank Nifty as always is a highly Volatile counter.
- 15000 is a good support for Nifty.
- 15400 is a stiff resistance.
- I expect Nifty to expire somewhere between 15000 to 15400 for this expiry.
- There is a good amount of Put writing in 15000 PE and 15400 CE.
- Those who sold Put option will always look for cover and they sell call option too.
- Wednesdays can be highly Volatile.
- So use Volatility to your favour when Market is at its Boundaries of the range.
- Nifty might Trade between 15060-15280 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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