- U.S Markets closed higher yesterday.
- Right now Dow futures are lower.
- Asian markets are lower.
- SGX Nifty is near 17500.
- Suggesting a positive opening for the day.
- Today the talk of the town is RBI Policy.
- RBI policy was originally scheduled yesterday but it got postponed to today
- Interestingly , we got weekly expiry today as well.
- RBI policy is expected to be out by 11 today and the general expectation is rise In repo rate by 20 basis points.
- Majorly , RBI governer comments about inflation etc will be closely monitored.
- I somehow feel RBI will increase by 20 basis points and we will have some profit booking today.
- Market has rallied much before RBI policy so I feel the upside from here in very limited.
- 2022 seems to be a year of Consolidation with huge Volatility.
- Upto now Nifty has been moving violently within 16800 to 18600.
- 50 DMA is at 17620 and a bigger resistance is at 17800.
- As we went all the way to 17050 from 17800.
- This isn't a market where you take positions and play for bigger gains.
- This is a volatile market and you should get in and get out quick.
- Holding Positions till expiry will cause big damage.
- IT sector is close to 200 DMA and the first test of 200 DMA always allow a good buying opportunity in a Bull Market.
- Nifty might Trade between 17300 to 17600.
- 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
Comments