- U.S Markets were muted on Friday.
- Right now U.S futures & Asian markets are higher
- SGX Nifty is at 17400.
- Friday was a pleasant surprise for our Stock Market.
- Despite all the Global Markets against us we had a weekly breakout on both Nifty and Bank Nifty.
- 35k and 17300 on Nifty and Bank Nifty were taken out decisively.
- India VIX is now near 16.
- Markets are trending higher but at a nominal pace.
- Pace is not too violent as we had In November & December.
- Another significant news is FII's buying.
- FII's were net buyers for around 570+ crores on Friday.
- We need to see if this continues or Friday was just a one off day.
- Usually the first trading day sets the tone for the entire month.
- Friday's price action indicates Markets to be trending higher at a slow pace.
- Now we have been turned into a buy on dip Market.
- Any sort of dips should be bought into.
- 17300 PE and 17500 CE has the highest open interest in weekly options.
- 17300 PE closed at 90.
- So if Nifty breaks 17210 these writers could panic and create further downfall.
- Else 17300 to 17500 seems to be the range for this expiry.
- Nifty might Trade between 17280 to 17480 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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