- U.S Markets closed higher yesterday.
- Right now U.S futures & Asian markets are lower.
- SGX Nifty is at 17620.
- Yesterday was once again a Fantastic day for the Bulls.
- After Friday's breakout Market showed fresh Expansion and momentum on the higher side.
- 50 DMA of 17516 has been breached decisively yesterday.
- FII's have bought 900 cr yesterday but the rally seemed like they have bought for 9000 crores.
- Now the big question is "What next from here"?
- Generally after 2 days of non - stop rally , big players tend to book profits on the 3rd day.
- Today there are good chances of a Consolidation with mild positive bias.
- Run away rally like yesterday should not be expected.
- I somehow feel Market is expecting some positives In the budget.
- This can be termed as a pre - budget rally for the markets.
- Another Possibility is good corporate results expectations.
- These 2 factors seem to be driving the markets higher.
- We would get better clarity after some days when the event actually happens.
- 17500 PE now has the highest open interest.
- This is because those who sold calls have no option but to sell closer puts to cover their loss.
- India VIX was higher yesterday because the call writers were in fear.
- Nifty might Trade between 17500 to 17750 today.
- stockmarketadvisory.in
- I will not chase the Market today.
- I would look to enter on a 50-70 point dip. My view is only to buy , shorting is not the trade one should take from here.
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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