- U.S Markets closed higher yesterday.
- Retail Sales data of U.S have come better than Expected.
- Asian markets are mixed.
- But SGX Nifty is weak.
- SGX Nifty is down 70 Points.
- Though India VIX is collapsing daily but the Markets remain to be highly volatile.
- Yesterday after 2 pm there was a huge selling.
- Last 1 hour Nifty broke 18000.
- High amount of Call Options have been sold at 18100 and above strike prices.
- Nifty is likely to test the Friday's low of 17900 today.
- This should act as the first support for our markets.
- If we are unable to hold onto this level , then we can expect further selling downside.
- 17800 should be the next support and if that is gone then 17600.
- November has been a very difficult month for traders.
- Due to such huge Volatility and unexpected moves all the traders are struggling to manage.
- Option writers are also facing issues in handling positions.
- Usually the Wednesdays are highly volatile and the Volatility is expected to go higher today.
- 18000 , 18100 and 18200 are big resistance levels for our Market.
- Nifty might Trade between 17800 to 18000 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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