- U.S Markets closed Flat Yesterday.
- U.S Markets aftee hitting all time highs a Month ago now seems to have gone into Consolidation.
- Right now U.S Futures are mindly higher.
- SGX Nifty is almost flat.
- Yesterday was a Volatile day for our Markets.
- Bank Nifty after being up 400 points fell 500 points then recovered 300 then finally closed 200 points lower.
- Due to this Nifty was also in a Consolidation phase yesterday.
- Today as well I expect the Consolidation to continue.
- 15600 , 15700 CE have added high open interest yesterday.
- Same was 15500 & 15400 PE have also added good amount of open interest.
- As of now the upside seems limited & there's not much downside too.
- Coming to Bank Nifty , 35500 CE has added high open interest and on the downside 35000 PE has added good open interest.
- We can expect Bank Nifty to be Volatile in this 500 point range.
- ITC has declared sub par results yesterday with a dividend of ₹5.75 per share.
- ITC has a good weight in Nifty so it will be interesting to see how it performs.
- Wednesdays are the penultimate days before expiry so they are likely to be quite Volatile.
- Any dip towards yesterday's low on Nifty near 15530-15550 is a buying opportunity.
- Same way on the Bank Nifty any dip close to 35200-35300 is a good buying opportunity.
- India VIX was slightly higher which shouldn't matter coz Nifty futures closed at significantly higher premium yesterday.
- Trade the range that's the plan for today and don't chase rallies nor short the falls.
- Take contra trades near the Boundaries.
- Nifty might Trade between 15520 to 15680 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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