- US markets closed mildly lower Yesterday.
- Asian Markets are mostly negative.
- SGX Nifty is flat.
- Yesterday we had a highly Volatile day but on a close to close basis markets closed flat.
- Bank Nifty is very weak.
- Yesterday Bank Nifty closed in Negative whereas Nifty closed Positive.
- Banks are dragging Nifty.
- This week Bank Nifty is down by 4% whereas Nifty down by 2%.
- This clearly shows Bank Nifty is weak.
- One can even Inititate a pair Trade.
- One can Buy Nifty and sell Bank Nifty until tomorrow's expiry.
- FII's were net sellers Yesterday.
- Whereas DII's were net buyers.
- Today we have RBI monetory Policy.
- Nothing major is expected from the policy and the major expectation is status quo.
- This Policy won't have any sort of long term implications but In Intraday Bank Nifty is likely to be Volatile due to the same.
- On a close to close basis I don't think the policy is going to effect much.
- RBI Governers comment would be the key to watch out for.
- Overall I expect Nifty to expire between 14450 to 14850 tomorrow.
- Also Nifty is likely to trade between above 2 levels.
- Nifty might Trade between 14520 - 14780 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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