- U.S Markets until 1 pm IST were trading lower yesterday.
- After 1 pm there was a short covering rally and Dow closed 300+ points higher.
- Fed Decision was as per Expectation.
- Most Importantly , U.S VIX crashed 12%.
- Due to this Fed Uncertainty VIX has increased in India as well.
- Yesterday in last 30 mins Put option premiums shot up heavily.
- Now as the Uncertainty is over , premiums have been reduced in U.S.
- It was a relief rally yesterday in U.S
- Now U.S Markets may move towards Santa rally.
- SGX Nifty is at 17350.
- Most Important Question is will the Gap up sustain?
- 17350-17375 is the key today.
- If we sustain above these levels for 30 mins then likely we will be having a follow through kinda day.
- Else FII's may sell into the same later during the day.
- 17300 CE added huge open interest yesterday.
- Hence if Market starts sustaining these sellers would be in trouble and would propell Market even higher.
- First 30 minutes no trade should be taken and once should be observing the price action unfold.
- After Clarity , decision can be taken.
- FII's selling is accelerating day by day.
- Yesterday they have sold for more than 3400 crores.
- Nifty might Trade between 17250 to 17500 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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