- U.S Markets closed higher yesterday.
- Right now Dow futures are flat.
- Asian Markets are higher.
- SGX Nifty is indicating a huge gap up of 150 points at 18220.
- This is quite a big gap up and also many call writers have been trapped at lower strikes.
- These call writers will face more problem in today's gap up.
- If we open near 18200 it's a good place to take profits off and sit aside for some time.
- We have lots of events today and Market bullishness indicates that insiders might know the outcome.
- These people start building positions before the actual event takes place.
- It's high chances that these events will be Market friendly.
- Inflation data in U.S expected to be 7.1% and I think U.S markets have already factored in the same.
- So even if we get this number markets would likely ho higher.
- IT Stocks are expected to post good results as Accenture has posted good results this Quarter.
- The only worrying problem is rising COVID cases.
- Market fell in panic when Omicron first took its presence in our counrty.
- Soon , Market has realised that the Hospitalisation and impact of Omicron is lesser compared to Delta Variant.
- Hence , we are moving higher.
- FII's are on a buying spree.
- Yesterday both the DII's and FII's were net buyers.
- 18000 should act as a good support for rest of the expiry both on weekly and monthly basis.
- Nifty might Trade between 18100 to 18300 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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