- U.S Markets closed lower Yesterday.
- Yesterday during Market hours Dow Futures were down 300 Points.
- At one Point of time Down was down 600 Points Yesterday.
- During the End of the day it has recovered 70% of its losses.
- Reason for this Bearishness was due to the Crypto Currency Market.
- All the Crypto Currencies have fallen by 50% from their all time highs now.
- Many Funds of U.S have their positions in these currencies.
- Now due to such severe fall these people have to book their Equity positions to compensate damage in crypto.
- This disturbs the rhythm of the Market.
- You may Remember the "GameStop Saga" there was a big short covering in GameStop stock and many hedge funds having short positions lost heavily.
- To compensate the leverage , losses etc they had to book the other positions to clear the Margin here.
- Sort of the same happened yesterday.
- Right now Dow Future's are flat.
- SGX Nifty is flat near 15050.
- Asian Market's are mixed.
- This is just a profit booking going on in our Markets and the trend is still positive.
- Expecting a slighly neutral / positive expiry today.
- Both the FII's & DII's were net sellers yesterday.
- 15100 CE & 15000 PE had the highest open interest yesterday.
- So for the most of time we might Trade within this level today.
- Shared an SBI Strategy on our Telegram Channel which has been performing well.
- Will keep positing all updates there itself.
- Nifty might Trade between 14970 to 15150 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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