- US markets closed slightly lower Yesterday.
- SGX Nifty Yesterday night was near 14950.
- Right now SGX Nifty is around 14850.
- Asian markets are a bit weak.
- Hence this weakness in SGX Nifty.
- I have been actively trading since 9 years in Stock Market now.
- One thing I always expect from Stock Market is Uncertainty and Surprises.
- Yesterday both Nifty & Bank Nifty were up more than 2.5% as on closing basis.
- After a big gap up many were expecting Markets to consolidate or be weaker.
- But Market continued the rally.
- As a trader it's important not to be stubborn and stick to your original plan.
- If plan isn't working change the same immediately.
- So in last 2 trading sessions both Nifty and Bank Nifty are up more than 4%.
- Now the most important question.
- Will we rally further , whether there will be a sell off or will we consolidate?
- I feel that 14600 is a good support on the lower side for this weekly expiry.
- We had a broad based rally these two days plus both FII's & DII's were net buyers yesterday.
- So the chances of market weakness is less.
- My view is bullish / consolidation.
- 15000 CE can act as a good resistance for this weekly expiry.
- If 15k breaks then it's definetely bullish signal.
- Nifty might Trade between 14740-14980 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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