- U.S Markets were closed on Friday.
- Most of the Global Markets were shut due to Christmas and New Year Celebrations.
- SGX Nifty is down 30 points.
- On Friday our Markets were under severe pressure.
- As soon as we opened , there was a big selling Nifty broke 17k.
- 16900 was tested and there was a good short covering.
- Everything happened with Volatility and VIX was higher 3%.
- I've seen many times in the past , as soon as VIX is near 15 it goes higher.
- VIX has not been below 15 in past 4 Months.
- This time as well im expecting the same.
- Both the FII's and DII's were net sellers on Friday.
- Though the amounts and volumes were less as it might be due to profit booking.
- Im expecting the Volatility to continue for December last week.
- 4 trading sessions are left and 17k strike option has the highest open interest.
- 300 was the combined premium so range comes between 16700 to 17300.
- 17150 is the 20 day DMA and is likely to act as resistance
- Friday's low of 16900 should come in handy as support for the day
- Uncertainty around RBL Bank should see some pressure in Bank Nifty and this could impact Nifty as well.
- Though RBL Bank doesn't have much weightage but the sentimental hit would be big.
- Nifty might Trade between 16840 to 17100 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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