- U.S Markets closed lower Yesterday.
- Right now Dow Futures are slightly down.
- Asian Markets like Hang Seng & China recovered yesterday but now both are lower.
- SGX Nifty is trading near 15740.
- Yesterday our Markets were highly Volatile.
- Most astonishing point was that Market has been recovering from big falls.
- We haven't broken important support of 15500.
- So this range might continue for long from 15500 to 16000.
- Today we have monthly July expiry and as of now July was flat.
- We might expect some big Volatile expiry moves today in 2nd half.
- FII's have been regularly selling for more than 2000 crore on a daily basis.
- Yesterday we had Fed event and there wasn't any change in interest rates.
- So this has become a Non - event for the Markets.
- My view has become mildly bearish on the Markets and I don't expect Nifty to cross 16k in August series.
- That's because of Poor Corporate results and earnings.
- Maybe FII's are selling due to the same.
- All the Large Cap stocks have fallen after results.
- Kotak Bank yet again declared very poor results.
- Bank Nifty has been underperforming due to same.
- HDFC Bank & Kotak Bank both constitute about 40%of Bank Nifty and both have declared below par results.
- Bank Nifty rallying in these situations isn't permissible.
- Nifty might Trade between 15550 to 15820 today.
- Big range today due to expiry.
- 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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