- U.S Markets were higher Yesterday.
- Asian Markets were higher too.
- Right now Dow futures are flat but Asian Markets are higher.
- SGX Nifty is Trading near 17900.
- Friday and Monday (Yesterday) markets opened gap up and the same has been sold into.
- Yesterday there was a decent gap up but Intraday Nifty tested 17800 and recovered from there.
- 17800 PE & 18000 CE has the highest open interest in options.
- Yesterday 17900CE also added some open interest.
- For some reason if Market does cross 17900 to 18000 then 100-200 Points rally is likely on the cards.
- India VIX shot up 8% Yesterday and closed above 18.
- Premiums have been rising for far away Options due to the same.
- Auto Stocks have performed reasonably well Yesterday.
- IT Index was down 3% and kept Nifty under pressure.
- Sectoral Rotation is common in Bull Markets.
- As the Economy is opening up money is being shifted from IT (Work from home) companies to Hotels , Holidays , movie stocks etc.
- Expect Nifty to trade within 17800 to 18000 today as well.
- We need some trigger to get out of this narrow range.
- Previously , whenever such range has developed Market has broke out on the higher side.
- In short term due to Expiry , Volatility there might be some erratic moves.
- Medium - Long term outlook is definitely bullish.
- Nifty might Trade between 17800 to 18000 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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