- U.S Markets closed lower on Friday.
- U.S reported poor job numbers data and that led to selling in the Market.
- Asian markets on Friday and today are outperforming global Markets.
- SGX Nifty is at 17930.
- Market has reversed twice from levels of 17900-17950.
- We are likely to open near the resistance.
- 17900 CE has added good open interest on Friday.
- 18000 CE has the highest open interest both in weekly and monthly options.
- Markets are likely to face pressure at these levels.
- Bank Nifty 38000 CE has added highest open interest.
- This week is going to be quite important for the Market.
- This is because we are going to have lots of news flow.
- India and U.S both will be announcing inflation data.
- IIP data will also be announced by India.
- IT companies are set to declare results on Wednesday.
- This would be coming in after Market hours.
- So this expiry could be turbulant considering all such news in hands.
- 17650 to 17950 is my range for Nifty.
- Unless any of the level breaks on upside or on downside I would like to trade this range only.
- Nifty might Trade between 17700 to 17950 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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