- US markets touched another record high on Friday.
- Asian markets are majority higher.
- SGX Nifty is down 200 points.
- With Very Positive Global cues we have negative local cues.
- Covid Cases are on the rise. There's no peak to be found near.
- India is struggling to manage and the mishap caused due to their negligance.
- The word Lockdown hasn't been used by Govt but almost all the restrictions are equal to Lockdown.
- Last 2 Monday's SGX Nifty fell 400 Points each.
- Today we have a gap down of around 200 Points.
- The Question is "how much will we fall today"?
- Bank Nifty Is very bearish and almost down 20-25% from its all time highs.
- HDFC Bank has come out with results but they seemed to be below par.
- All these factors would add up to more weakness in the Market.
- On Friday both FII's & DII's were net buyers.
- Puts were written Aggressively near 14500 and 14200.
- This might be a knee-jerk reaction and a panic sell.
- I dont see big fall might happen today.
- One can sell 14100 and 14000 Put options of weekly expiry as ViX would be high and only 3 trading sessions are there for this expiry.
- Wednesday being a holiday.
- Nifty might Trade between 14380-14620 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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