- U.S Markets closed 200 points higher yesterday.
- Asian markets are flat to negative now.
- SGX Nifty is up 20 points.
- Yesterday our Markets were highly volatile.
- As soon as Market opened Nifty crashed 250 points at the open.
- This has been a regular feature as soon as our Market opens.
- This huge selling happens because of Machines.
- Machines are much faster than humans and we cannot stand in front of them.
- Nifty yesterday tried to break 17200 but failed.
- What's more worrying is Bank Nifty.
- Bank Nifty fell 20% from highs and is in a Bear Market now.
- Yesterday advance decline ratio was also very weak.
- 420 advances to 1570 declines shows a very weak advance decline ratio.
- Clearly momentum is lacking on the upside.
- This is a sell on rise Market until Nifty crosses and closes above 17250 in the near term.
- 17000 is the highest open interest in put options.
- Both in monthly and weekly expiry.
- So this could act as a support.
- I'm expecting a rangebound Market now.
- 17000 to 17250 is the range for now.
- And expecting this to continue for some time.
- FII's have been selling on a daily basis of 3000+ crores.
- Nifty might Trade between 17000 to 17250 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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