- U.S Markets closed lower yesterday.
- Right now U.S Markets and Asian markets are lower.
- SGX Nifty is trading near 18220.
- In spite of big fall in Global Markets , SGX Nifty is still down just by few points.
- Yesterday was a very rangebound expiry.
- We had a short covering in the end but it was mostly rangebound only.
- IT index was flat throughout.
- Infy had come up great set of numbers and everybody expected a rise in prices.
- But a small gap up also got sold into.
- Usually , on the expiry days moves get restricted because of option writers.
- Real action begins on the day after expiry.
- Today's action is important to watch out for.
- 18300 straddle added huge open interest yesterday.
- 18000 PE also added good open interest in monthly as well as weekly.
- Yesterday I gave a swing trading set up on Nifty.
- Buy at 18200 with stop of 18k and targets of 18400 and 18600 (1:2 risk reward).
- This set up still holds well.
- Nifty might Trade between 18140 to 18360 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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