- U.S Markets closed lower Yesterday.
- U.S Markets are down for 3 consecutive days now.
- This may be due to the Inflation news coming today Evening.
- Before the Inflation news , institutions wish to book profit and stay safe.
- Right now Dow Futures are slightly positive.
- SGX Nifty is trading near 15700.
- Yesterday our Markets witnessed quite big swings and turns.
- Bank Nifty opened below 35k trapped bears and rallied 400 points.
- Nifty almost did the same by reversing from lows in first half.
- Second half witnessed quite large amounts of profit booking.
- Just at the stroke of 14800 Nifty corrected and fell almost 200 points Intraday.
- Bank Nifty fell almost 800 Points from day high.
- All the Put writers got trapped and had to run for cover thus Taking Market even lower.
- It was a two way move in indices Yesterday.
- In spite of such high Volatility yesterday the India VIX was firmly lower.
- This suggests that it might be one off day for Bull's.
- I expect it as a shake off to take out the Weak longs and Markets to be normal after U.S Inflation data.
- Most of the times , in Bull Markets Bears last only for a day.
- Such Corrections and Profit booking is good for the long term strength of Bull Market.
- Usually after such a Volatile day the next day might be calm and Rangebound.
- Weekly expirys are generally Rangebound.
- Nifty might Trade between 15600 to 15800 today.
- Bank Nifty might Trade between 34600 to 35200 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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