- U.S Markets closed yet at another record high Yesterday.
- Dow futures are slightly positive currently.
- Asian Markets are higher.
- SGX Nifty is Trading near 15820.
- U.S Jobs Data has come above Expectations.
- U.S added more jobs than Expected and that data has come on Friday.
- Due to this U.S Markets closed at fresh highs.
- Our Markets have been consolidating from quite some time now.
- Last 1 Month we have been trading in a narrow range on Indices.
- I expect the range to continue for this week too.
- From next week the Corporate results start kicking in.
- This will propell some higher move in indices.
- Friday we had a good short covering towards end of the day.
- Those who have shorted throughout the week were in good gains.
- They didn't wish to carry positions over the weekend.
- They squared off their positions.
- This has led to short covering towards day end and markets closed higher after 5 days negative closing.
- Nifty might Trade between 15700-15900 today.
- I would not buy this gap up. Instead will look to sell 15850 to 15900.
- 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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