- U.S Markets closed higher on Friday.
- Right now Dow futures and Asian markets are higher.
- SGX Nifty is at 17660 now.
- On Friday U.S Inflation data was announced.
- The Actual Figure came at 6.8%.
- Expected Inflation rate was also at 6.8%.
- This was the highest Inflation in last 40 years of U.S history.
- Experts were pointing out that if this Inflation rate is announced then the Markets would crash.
- All The growth stocks would be hammered.
- But on Friday the Markets decided to go higher.
- So Markets can be Irrational until one goes bankrupt.
- Maybe the Market participants are expecting that due to this Inflation percentage , fed might delay tapering.
- Also Fed might postpone interest rate hike.
- On Wednesday we have a very important Fed meeting.
- Market would be keenly watching this event and Markets might remain jittery till Wednesday.
- Right now Nifty is Trading violently between 17400 & 17600.
- For 2 Consecutive days Nifty has found support at 17400.
- 17600 has been a resistance and Markets have failed to close above it.
- Closing decisively above 17600 will indicate further momentum in the Market.
- We have resistance at 17700 as well.
- So at every 100 points we have resistance for Nifty.
- Nifty might Trade between 17480 to 17650 today.
- Once 17600 we can expect further momentum to 17700.
- Stoplosses for long trades should be at 17484.
- 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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