- U.S Markets closed lower Yesterday.
- Dow futures and Asian markets are mixed now.
- SGX Nifty is trading at 17500.
- Today U.S inflation data is about to come in U.S and there's why some pressure exists.
- Yesterday after many days Market were a little stable.
- Before Yesterday Nifty and Bank Nifty have been making 2% moves on daily basis.
- Yesterday things seem to have settled a bit.
- FII's have sold more than what DII's have bought yesterday.
- But due to Expiry related issues etc Market might have been stable.
- Last 2 consecutive Friday's markets closed at the lowest point of the day.
- This week as well we are sitting on huge gains on both indices.
- So people would like to take off some money to go into the weekend.
- Also there is uncertainty in Global Markets so that is general.
- Evergrande , one of the World's largest real estate developer defaulted in their loan and is on the verge of Bankrupcy.
- Need to closely track the Developments here.
- 17600 is a hurdle for now and one can be bullish only if this level gets taken out decisively.
- Until then it's better to be neutral.
- India VIX is now below 17 and that's a sign of stability.
- However FII selling in back in strength.
- Nifty might Trade between 17300 to 17620 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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