- U.S Markets closed more than a percent lower on Friday.
- Right now U.S Futures are down.
- Dow Futures are down 200+ Points.
- SGX Nifty is down 150 Points and trading near 15600.
- Indian Markets always tend to follow the Global Markets.
- On Friday we were down more than 2% from days high on both Nifty and Bank Nifty but witnessed a large short covering towards day end.
- Also a point worth noting is U.S VIX was gone from 15 to 22 in no time.
- Expecting India VIX to also go higher in coming days.
- Next 4 days Market is going to be highly Volatile.
- Usually the Monthly Expiry is always Volatile.
- Option Writers should be very careful and not hold positions till Expiry.
- Need to keep small targets and exit by day end.
- Carrying positions in these Markets is very risky.
- Also taking trades and holding it till the view of Expiry can also turn to be quite risky.
- First support for Nifty spot comes near 15540.
- If this is broken then Nifty could test Friday's low of 15460-15470.
- If we get closing below 15540 then things could get more bearish.
- This is for the immediate short term a sell on rise Market now.
- Those who can handle this extreme Volatility should only trade for others it's better to stay away until this Expiry.
- Bank Nifty looks to be very bearish and that's dragging Nifty much more.
- Nifty might Trade between 15440 to 15740 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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