- U.S Markets closed lower yesterday.
- Right now Asian Markets are mixed.
- SGX Nifty is flat at 18220.
- Yesterday it was a boring Market until 2 pm.
- Last 1 hour , Nifty fell 100 Points and Bank Nifty by 200 Points.
- This is due to huge FII selling.
- FII's have been booking profits heavily and have sold more than 12k crores in last 5 trading sessions.
- Due to such heavy selling market is trading violently between 18000 to 18500.
- In spite of such big selling by FII's Nifty is down by only from 300 Points from all time high.
- This is because the DII's and the retail keep supporting Market as lower levels.
- Yesterday all the Banking stocks witnessed heavy profit booking.
- Axis Bank came out very good results but it fell 6% thereafter.
- Predicting stock specific move after results is too tricky as it all depends on F&O positions lined up.
- Expecting November to be a very boring month for trend followers whereas highly profitable for option sellers.
- Expecting VIX to crash below 15 sometime in November and Markets to consolidate.
- Consolidation to happen with slightly positive bias.
- Today expiry could be volatile after 1 pm and usually the monthly expiry are very volatile.
- IndusInd Bank has also come out very good results yesterday.
- 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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