- U.S Markets closed lower on Friday.
- Right now , Dow Futures are Negative.
- SGX Nifty is near 17450.
- Global Markets are jittery due to Evergrande loan Default case.
- Evergrande company is China based real Estate Company and is one of the largest in the World.
- There has been news floating around that they have been defaulting on loan dues.
- Due to which the Global Markets are jittery.
- On Friday Nifty touched 17800 but soon we witnessed a heavy profit booking.
- This might be due to the Weekend as traders don't wish to carry Positions over the Weekend.
- Today's gap down might be lower than what SGX is indicating.
- SGX doesn't show the exact situation most of the times.
- In the past when such gap downs happened we have recovered during the day.
- Today as well I feel the same.
- 17450 is a strong support for Nifty and as long as we hold on to this level one should consider buy on dip.
- India VIX closed higher on Friday and it's likely to open higher today as well.
- We might not fall much in line with Global Markets today.
- DII's were net sellers on Friday but FII's were buyers.
- If we breach 17450 on Nifty then I will turn bearish.
- Bank Nifty is showing strength and on Friday it closed Positive.
- Kotak Bank is outperforming in Banking Sector.
- Nifty might Trade between 17450 to 17650 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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