- U.S Markets closed flat yesterday.
- Right now Asian Markets are lower.
- SGX Nifty is flat at 18260.
- Yesterday it was a surprise rally in our Markets .
- From past 1 week all the gap ups and rallies have been sold into.
- Yesterday the Markets reversed and witnessed some short covering towards the end.
- Nifty closed at the highest point of the day.
- India VIX fell 6%.
- It was a dream day for option writers.
- Today will be an Equally volatile and difficult day for option writers.
- Wednesdays are generally highly volatile and Market turns violently on both the sides.
- Yesterday because of some good corporate results Nifty outperformed Bank Nifty.
- After Market hours Axis Bank has come out with results and it were better than expectations.
- Banking stocks have run up too quick in last week so have to see the reaction of the stock.
- 18000 seems to be a strong support now for our Markets.
- For November Month as well , highest open interest added at 18000 PE.
- Expect Nifty to expire between 18100 to 18350 now.
- I had mentioned Nifty had bottomed out at 18050.
- On Intraday basis it fell below 18050 for a brief point of time but never closed below the level.
- Nifty might Trade between 18100 to 18350 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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