- US markets closed at all time high.
- U.S Markets have broken out from a ranging scenario.
- But Asian markets are Underperforming U.S Markets.
- Asian Markets are flat/Negative.
- Yesterday we witnessed an intense selling in the first hour.
- This selling magnified during the day.
- I would term it as a Panic selling.
- Due to highest number of cases , gradual lockdown rules in some states.
- Covid 2nd wave fears there was a big selling Yesterday.
- FII's were net sellers Yesterday.
- DII's also didn't come to support the Markets at lower levels.
- Bank Nifty was the Culprit.
- All Financial stocks were targeted and surprisingly even after such a big fall IT index was Positive.
- So the target was Financial stocks.
- I feel Yesterday was a knee-jerk reaction and a bit of Panic selling.
- I had warned Yesterday that Volatility may tap up.
- I have been observing from last 3 Months whenever SGX Nifty closes around 20 , the next week it jumps higher.
- Those who sold Put Options Yesterday will be having a tough time.
- Yesterday's low of 14500 will act as a good support for the rest of this Expiry.
- 15000 CE has the highest open interest.
- If 14500 breaks then we will witness 14250.
- As of now I'm selling Call Options on every bounce using 50% of my Capital.
- If 14500 breaks I'll be selling CE's aggressively.
- Nifty might Trade between 14460 to 14740 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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