- U.S Markets closed higher Yesterday.
- Dow hit a fresh all time high yesterday.
- Asian markets are higher
- SGX Nifty is at 18350.
- Our Markets have been going through a brutal correction phase.
- Yesterday Nifty was less than a percent but I can assure you most of the portfolios have been down by 3-4%.
- Midcap index fell 2.5% yesterday.
- This is a very healthy correction as the over leveraged and over valued hyped stocks have been coming to fair valuations.
- Correction isn't over yet and I expect the weakness to continue for short term.
- Global Markets might keep hitting fresh highs but here we might face temporary underperformance.
- Last hour reversal is just due to Volatility and that cannot be stated as a recovery.
- Only if we get a closing above 18500 can we say the Market is strong.
- Bank Nifty is outperforming the Nifty
- Yesterday Nifty closed -0.8% lower but Bank Nifty closed flat.
- PSU Banks witnessed significant buying yesterday.
- 18000 and 18200 has the highest open interest in monthly options currently.
- 18500 and 18600 CE has the highest open interest among calls.
- Yesterday India VIX too started inching higher and closed +7% above 18.
- Expect some sort of pull back and consideration today along with fall in India VIX.
- FII's and DII's have sold more than 6500 crore in 2 trading sessions.
- This is the highest in last 3 Months.
- Next week would be tricky as it's monthly expiry and volatility could be supreme.
- Nifty might Trade between 18200 to 18450 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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