- US markets closed flat Yesterday.
- Markets all over the World are in a Consolidation phase.
- Consolidation is the need of the hour for Bulls.
- Consolidations and Corrections in Bull Markets bring more Strength and Pace to the Markets.
- Asian markets are mostly down.
- SGX Nifty is up 40 points.
- 15260 seems to a strong resistance for our Markets now.
- We have been failing to break through the range.
- We have broke out of the range and went higher than 15260 level but failed to sustain.
- 15300 Straddle has the highest open interest.
- So expiry can be expected near this level unless another big move / spike appears.
- HDFC Twins were weak Yesterday.
- They contributed more to the downside.
- On the other hand , PSU Bank index rallied 6% Yesterday.
- PSU Banks kept the Bank Nifty breadth intact.
- The reason is that there were some restrictions announced by RBI for Housing Finance Companies.
- Currently it seems like all the sectors and stocks have been peaked out.
- Market needs fresh news or Trigger to continue Momentum.
- Nifty might Trade between 15120-15340 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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