- US markets closed almost flat.
- It was a Consolidation day for U.S Markets Yesterday.
- S&P 500 was up but DOW and Nasdaq was down.
- Asian Markets are all Trading higher.
- SGX Nifty is now near 14400.
- Yesterday was one of the worst falls in the history of Stock Market.
- A 2000 Point Blood bath in Bank Nifty and 500 Point Blood bath in Nifty.
- Yesterday I mentioned that 14500 is a good support and if it breaks weakness will extend.
- Next support now is 14200 -14250 as this the previous Month low.
- If we break this level then 14000 will be witnessed.
- Markets didn't break 14250 Yesterday.
- Markets might again test that level in the first half and if it holds on we might rally in second half.
- If it breaks then Bloodbath will continue.
- Bank Nifty is the weakest index currently.
- For 2021 Bank Nifty has turned negative.
- This shows the extent of selling in Banking stocks.
- I will be Bullish for the Expiry only after Nifty crosses 14450 firmly.
- Until then I'd be bearish.
- TCS has declared very good results Yesterday with highest order wins.
- Infosys has announced buy back so it has a positive sentiment surrounding it.
- IT Stocks can hold the Markets today.
- Nifty might Trade between 14200 -14480 today.
- India VIX notched up 15% higher Yesterday.
- Premiums were highly attaractive Yesterday considering only 2 working days left for this week Expiry.
- I made use of the same and sold 14000 PE & 14650 CE.
- Will do adjustments if we break 14200 or Cross 14500.
- 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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