- U.S Markets closed lower on Friday.
- Right now U.S Futures are Trading higher.
- SGX Nifty is Trading near 15900.
- Asian Markets are higher.
- There were some positive news over the weekend.
- The GST Collection for July came at 1.16 lakh crore.
- This is the top 3 highest GST Collections till date.
- Auto Companies reported good sales numbers.
- Due to these positive news we are indicating towards a 100 points gap up.
- I would sell if we open near 15900.
- At 15900 I would short the Nifty with 50% of my volume and near 15950 I would look to short again with 50% of the remaining volume with a stoploss of 16k.
- If it works its well and good. Else I'm prepared to take my Stoploss.
- 16000 CE continues to have highest open interest for August series.
- July series too we had the same situation.
- Thus we can expect it to act as stiff resistance.
- Surprisingly , 15000 PE has the first highest open interest in August.
- Second highest Open interest is at 15500 PE.
- This shows that people are more fearful of the downside than the upside.
- These are data points which you need to consider.
- Nifty might Trade between 15740 to 15920 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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