- U.S Markets closed at record highs Yesterday.
- More than 80% of the U.S Companies have declared better than expected results.
- Asian Markets are mixed.
- SGX Nifty is up 30,40 points.
- Yesterday we opened above 18200 but within minutes markets crashed.
- 18000 was broken for a brief amount of time and Market touched 17950.
- Then we had witnessed a sharp recovery from those levels.
- Reliance in spite of declaring good results seemed dull yesterday.
- ICICI Bank was the star of the show.
- Up more than 10% yesterday and single handedly took Bank Nifty higher.
- Bank Nifty at a brief moment was up 1300 Points.
- Profit booking was witnessed after that and it closed 700-800 points higher.
- Yesterday HDFC Bank was down more a percent.
- This is a classical Market situation where one business captures Market share from other.
- HDFC Bank was the most loved FII stock but since Aditya Puri resigned it has lost its Mojo.
- Money has now been shifting to ICICI and Axis.
- Bank Nifty still has enough legs to cross 42k by this expiry.
- Nifty might remain sideways between 18000 to 18250.
- It might Trade within this range but with high Volatility.
- Midcap stocks have been falling apart from past few trading sessions and that's a very good sign.
- There was a lot of froth in the midcap space and that's been corrected now.
- I still believe decent Midcaps would do very well but every stock won't run up as we have been witnessing.
- One needs to be very careful while picking stocks.
- Nifty might Trade between 18000 to 18250 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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