- U.S Markets closed higher Yesterday.
- Dow futures are flat now.
- Asian Markets are mixed.
- SGX Nifty is trading around 16300.
- Yesterday we touched 16350 on Nifty but we were unable to sustain this gap up.
- Towards the end of the day Trading day severe profit booking was witnessed.
- Ultimately markets closed almost flat.
- This happens when we have a huge breakout.
- Nifty broke out of 16k with full steam and after that we are consolidating.
- Today is Wednesday and remember Wednesdays are highly Volatile.
- As we have an Expiry tomorrow so expiry related issues might kick in.
- In spite of severe profit booking yesterday 16000 PE added huge open interest.
- This shows the confidence of Bulls.
- We are in a Consolidation phase and this might continue a bit longer.
- Zomato posted results yesterday are they do not look good.
- Loss reported by the company has increased by 360% YOY.
- I have repeatedly Cautioning that this stock is trading at high Valuations and one needs to be careful.
- This will be a very Stock Specific market from now.
- Investment in wrong Stocks would cause severe damage.
- Nifty might Trade between 16160 to 16360 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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