- U.S Markets closed mixed yesterday.
- Right now Dow futures are higher.
- Asian markets are lower.
- SGX Nifty is up 20,30 points.
- Yesterday was a volatile expiry.
- Market kept falling since open.
- As soon as Nifty broke 17900 it's support level , the selling intensified.
- India VIX was 7% higher yesterday during the day.
- The final 30 minutes witnessed good amount of short covering.
- Nifty took support around 17800 yesterday.
- As I've been saying 17800 to 18100 is the range currently.
- Market is trading with huge Volatility in this range.
- Market is weak specially the Bank Nifty.
- Bank Nifty hit an all time high of 41800 in October end.
- Now it's at 38500.
- Down more than 10% because of inflation fears.
- The sentiment is negative now as we haven't a closing above 18100 for Nifty.
- At lower levels short covering is saving the Market from collapsing.
- Else the situation would've been much worse.
- Expect the range to continue for some more time.
- Nifty might Trade between 17800 to 18100 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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