- U.S Markets on Wednesday night closed 2% lower due to Inflation Fears.
- SGX Nifty broke 14500 at one point of time.
- Yesterday , U.S Fed has calmed the Inflation Fears and there was a rally in U.S Markets.
- Although SGX Nifty is indicating 150 Points positive now.
- It is at the same level where Nifty has expired on Wednesday ie , 14700.(Thursday being a holiday for our Markets)
- We track all the Global news being an option writer via hedging.
- For those who didn't track any missed all the action.
- Since last 3 Months our Markets have been Consolidating and are in a fairly Rangebound zone.
- 14200 to 15400 is the wider range.
- 14200 to 15000 is the shortened range.
- I expect this range to continue for some time now.
- Some Exceptional event or news might trigger this range to break but I don't see it In near term as of now.
- Smart players have been trading this range very well and have made fantastic returns.
- Ranging Markets test your skill and patience as you require skill.
- As they say , Even a Donkey can make money in Trending Markets but it requires skill to make money in ranging Markets.
- As per research 95% traders make money in Trending Markets and lose all in Ranging Markets.
- FII's and DII's have been net sellers throughout the last week.
- Right now they are holding agressive short positions.
- 14500 is a near term support. Markets might test this level in coming days and if this sustains we might expect some short covering.
- As of now we have Negative Global cues and slightly positive local cues.
- We may open gap down but chances are dips will be bought into.
- Reliance is near its lower band of 1900 so that can be bought with a 1% Stoploss for short term.
- Akshay Tritiya is round the corner so Jewellery stocks would be in focus.
- Nifty might Trade between 14560 to 14820 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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