- U.S Markets closed mixed yesterday.
- Right now U.S futures & Asian markets are mixed.
- SGX Nifty is at 17200.
- Dow Jones is just few 100 points away from all time high.
- Yesterday after many many trading days we had stability.
- Nifty for the whole day traded within just 70-100 point range.
- Same goes with Bank Nifty as well.
- Yesterday was a very quiet and a flat day on the indices.
- 17200 PE added more than 30L contracts yesterday.
- It closed near 50 points yesterday.
- So these writers are safe upto 17150.
- As long as we hold 17150 there should be some positivity.
- Once we break 17150 then we could have more downfall as these writers would run for cover.
- Surprisingly the premiums are too less now.
- 17200 PE which is just 30 points away from spot is at 50 when we have 2 days left
- Such sort of premiums are generally on Wednesday afternoon.
- Reason is the India VIX.
- India VIX has crashed and that's why premiums are dropping significantly.
- FII's for the first time after 32 trading sessions have bought yesterday.
- Though it was just 200 crores but they were net buyers.
- Nifty might Trade between 17100 to 17300 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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