- U.S Markets closed higher Yesterday.
- Nasdaq is just 1% away from record highs.
- Technology stocks are outperforming both in U.S and India.
- Right now Asian markets and Dow futures are flat.
- SGX Nifty is Trading at 18450 almost flat.
- Yesterday was a highly volatile trading day.
- Nifty witnessed a huge gap up near 18600 and this got sold into within minutes.
- Market recovered swiftly during the day and closed near 18400.
- Yesterday there was heavy profit booking in momentum stocks.
- All the stocks that have rallied too quick too fast started to fall.
- Nifty heavyweights were mostly higher yesterday it was just broader Market collapse.
- HDFC Bank ADR was up 2.5% yesterday in U.S Market.
- Can expect it to outperform today as well.
- Wednesdays are mostly volatile trading days but I feel today could be a silent day as we have witnessed volatility yesterday.
- Expect Banking stocks to continue outperforming.
- HUL results didn't help the Markets either.
- As soon as the resukts were announced all the FMCG Stocks witnessed heavy profit booking.
- Expect Markets to consolidate before going higher.
- 18300 PE & 18600 CE has the highest open interest.
- Option writers are betting on this range for expiry which I feel should work.
- Nifty might Trade between 18300 to 18600 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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