- U.S Markets closed higher on Friday.
- Right now Dow futures are higher.
- Asian markets are flat.
- SGX Nifty is up 100 points near 18200.
- FII's have been relentlessly selling for whole of November.
- Until they changed their mind on Friday.
- Friday for the first time FII data was positive and this led to a huge short covering in the Market.
- Market was highly volatile in whole of November.
- Friday we opened with a gap up hit 17900 and then zoomed towards 18100.
- 18100 was a very important level as it was the upper range for the month.
- Now we have closed at the upper range and today's gap indicates that Market has broke out.
- 18300 and 18420 is the next resistance for Nifty.
- Bank Nifty has huge call writing at 39000.
- Today's gap up might be somewhere near this range and if call writers start to wind up , then we might see a rally there as well.
- Today is a very important day to watch for FII data.
- We need to confirm whether its a continuous buying or just one off day on Friday where they have bought.
- 18000 PE has the highest open interest now in weekly and monthly.
- I was Bearish on Friday but Market proved me wrong and now I'm neutral / slightly bullish.
- Nifty might Trade between 18100 to 18300 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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