- U.S Markets closed lower Yesterday.
- This is due to Tensions floating in Afghanistan.
- Asian Markets were negative yesterday during the Trading hours.
- Now , all of them have recovered.
- SGX Nifty is Trading around 16650.
- It is safe to say that Indian Markets are outperforming the Global Markets.
- August series continues to be dominated by the Bulls.
- Yesterday evening , a news emerged that RBI has allowed HDFC Bank to issue Credit Cards.
- HDFC Bank has been underperforming from quite a long time due to RBI restriction.
- This temporary lift of Ban might trigger some Positivity in the Stock.
- Bank Nifty might outperform today as HDFC Bank has the highest weight in Bank Nifty.
- Lot of calls have been written at 16600 and 36k for Bank Nifty.
- Yesterday's last 30 mins rally in the Markets have caused a trouble for these people.
- 16500 straddle also has the highest open interest.
- So if Market sustains the Positivity we might see unwinding of these Call writers which will further take the Market higher.
- Premiums are already too low so one can shift to monthly expiry contracts.
- IT sector has outperformed yesterday and it should continue the momentum.
- Bank Nifty is the key today , if Bank Nifty sustains above 36100 then this will carry Nifty single handedly.
- Nifty might Trade between 16520 to 16700 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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