- U.S Markets closed slightly lower Yesterday.
- Asian Markets are all mostly higher.
- SGX Nifty is almost flat near 15250.
- Bank Nifty had underperformed yesterday.
- HDFC bank in particular dragged Bank Nifty.
- Reliance is also trading lower.
- The frontline heavyweight stocks are in a Consolidation phase.
- I expect this to continue today as well.
- Yesterday high Open Interest has been added at 15300 CE.
- Bank Nifty also added huge open interest at 35000 CE.
- These levels will act as a huge resistance for the next 2 days.
- But however this is Monthly expiry week & due to Expiry related issues things might change.
- FII's were net buyers whereas DII's sold Yesterday.
- India VIX at one point of time was higher 10% but closed below 19.
- Option Premiums are too low that indicates not a big move ahead.
- Even June Expiry options are trading at such steep discounts.
- Markets are slowly inching higher and it's a matter of time before we hit fresh all time highs.
- However for today and tomorrow I'm slightly bearish.
- Wednesdays are generally highly Volatile considering the expiry day the next day.
- Use every dip to buy for long term point of view.
- Nifty might Trade between 15120-15320 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
Comments