- U.S Markets closed flat Yesterday.
- Asian Markets are also Flat.
- SGX Nifty at one Point was higher by 250 Points.
- Right now it's higher by 100 Points.
- TCS in spite of positing good results was down 5%.
- This is because these stocks have already rallied a lot.
- So now Profit booking takes place in these counters.
- Infosys came out with results Yesterday.
- But Infosys ADR is down by 6% in U.S Market.
- Meanwhile India continue to record highest Corona Virus cases.
- Maharashtra has anniunced a lockdown.
- SGX sometimes is a misleading Indicator as it tracks only the Global data.
- Local cues are being ignored in SGX Nifty and the real Position we get to know only after Market opening.
- If we open 100-150 points higher then I do not see risk reward favouring a buy.
- It is a good shorting Opportunity that can be done via this gap up.
- Expecting Markets to be Bearish / Neutral for this Expiry.
- Nifty might Trade between 14440 - 14680 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
Comments