- Asian markets are slightly positive.
- Dow Futures are trading lower.
- SGX Nifty is trading around 14800.
- On Friday , within few minutes of Market opening Nifty and Bank Nifty broke the Monthly low.
- Nifty made a low of 14350 but then bounced back 350+ Points by the end of the day.
- This was supported by big short covering later during the day.
- US markets showing divergence.
- Dow Futures down but Nasdaq is up.
- U.S Markets are in a Consolidation phase.
- Indian Markets too on a close to close basis is in a Consolidation.
- March Month is typically a Consolidation but with huge Volatility.
- Dow Future down but Nasdaq Future up.
- Covid cases increasing rapidly in India.
- Maharashtra seems to be the worst effected.
- Many states starting to put restrictions and having mini lockdowns.
- Market as of now isn't reacting to such news.
- FII's buying spree is on.
- On Friday , both FII's & DII's bought and were net buyers.
- FIIs have bought for Rs 7500 crores in last one week.
- We have only 4 trading sessions left for March Expiry and Expecting this to be very Volatile.
- But on a close to close basis I don't expect Nifty & Bank Nifty make big move.
- Nifty might Trade between 14620 to 14880 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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