- U.S Markets closed lower yesterday.
- Right now Dow futures are slightly higher
- Asian markets are higher.
- SGX Nifty is near 16950.
- Suggesting a slightly positive opening for today
- Yesterday was a bloodbath all over Dalal Street.
- Nifty fell 3% , Bank Nifty 4% and almost all the stocks closed in Red
- Only TCS was positive yesterday in Nifty 50 rest all closed in Red.
- 17050 was this month's low and that got breached and we closed below the same.
- This indicates further weakness in the Market.
- We did halt yesterday at 16800 near 200 DMA yesterday but I feel it's a matter of time before we break it and test 16400.
- Markets have made a vertical rally last year so the fall now will also be vertical.
- My view would go wrong only if we get a closing above 17100 on Nifty.
- Until then sell on rally view remains.
- Banks supported the Market all along but now fresh downside expansion has started there as well.
- Big players are dumping stocks to retailers considering exuberance in the Market.
- War , Inflation etc are just reasons.
- When Market wants to go down it just needs reasons to go down.
- I don't think correction ends here and it's a good time to start buying stocks for long term.
- Until March end I feel the correction would continue and would expand.
- Once correction ends we would get an indication and then it would be a good indication to buy for long term.
- As of now let the Market correct and it's better to sit on cash.
- Do not follow people who on every dip keep saying "This is an opportunity for long term" etc.
- When Market goes up by 200 points they say see I said you so.
- Long term has nothing to do with timing the Market.
- Long term is buying quality at dirt cheap price.
- Prices are not cheap yet in my opinion.
- This would now be a very stock specific Market.
- Only selected quality stocks would be going higher and the broader Market would keep going down.
- One should be very selective and skilled to make money from hereon.
- Nifty might Trade between 16800 to 17100 today.
- If 16800 breaks be ready for fresh bloodbath.
- 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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