- U.S Markets closed lower Yesterday.
- Most importantly , S&P 500 VIX closed 25% higher.
- This is a disturbing sign of option writers.
- When VIX goes higher put options go higher but CE do not fall proportionally.
- It looks like a short term Correction has begun in U.S Market.
- Asian markets and Dow futures are slightly higher now.
- SGX Nifty is down 50 points near 17900.
- Today we have weekly expiry.
- Next expiry we have only 4 trading sessions.
- Market has reversed from 18350 and now has become a sell on rise Market.
- Selling is so severe in first half as soon as we open.
- Both FII's & DII's are net sellers since last 2 days.
- Looks like retail has to be bear the pain.
- Bajaj Finance after declaring fantastic results scaled all time high yesterday.
- As soon as ATH were hit selling began.
- It fell almost 10% from highs yesterday.
- Hoping some stability today due to expiry etc.
- Yesterday's low of 17880 should be crutial support today.
- 18000 should act as an immediate resistance.
- Nifty might Trade between 17850 to 18050 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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