- U.S Markets closed lower yesterday.
- U.S Inflation data has come at a multi decade high of 6.2% for October.
- This is the highest number in last 30 years.
- Dow futures and Asian markets are currently higher now.
- SGX Nifty is trading at 17960.
- Nifty is consolidating within a range of 17800 to 18100.
- Within this range it's been trading with high Volatility.
- Markets are waiting for some fresh triggers to give a fresh move.
- FII's have been consistently selling since October End.
- The magnitude has reduced than before but selling has not stopped.
- Yesterday due to Reliance Market was stabilized.
- Reliance seems to have bottomed out near 2500-2480.
- Before results it was near 2750 but witnessed profit booking and came to 2500.
- Reliance is an index heavyweight and a very important component for Nifty.
- Zomato has come with its results yesterday and it worsens every quarter.
- Losses increase to 500 crores in a quarter.
- A loss making start up acquires stake in other profit making start ups to reduce losses.
- I don't understand this start up saga and it's better to stay away as the valuations are through the roof.
- Nifty might Trade between 17880 to 18050 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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