- U.S Markets closed lower Yesterday.
- Nasdaq crashed 500+ points yesterday.
- Dow Jones and S&P were also weak.
- In the Afternoon Dow Futures were positive on the back of good jobs data Expectation.
- As Markets opened Fed minutes were presented.
- In minutes there were talks about Increase in interest rates and reducing bond purchase.
- There was also a discussion on Reducing liquidity in the economy.
- This will be done in a staggered manner.
- This posted a dent on the Bullish sentiment and caused markets to fall in panic.
- U.S VIX was up 16% YESTERDAY.
- Due to all this SGX Nifty is indicating an open near 17800.
- I feel this is a good gap down to enter into.
- 17750-17720 should act as good support levels for the day.
- Once Global Markets start to stabilize we will resume uptrend.
- Yesterday both FII's and DII's were net buyers.
- Today is weekly expiry and this gap down might create panic in first half.
- Post that we can stabilize and can expect a recovery.
- Bank Nifty looks strong and has actually breached 20 DMA yesterday.
- IT stocks were under pressure and expect it to continue today as well
- Nifty might Trade between 17720 to 17960 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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