- U.S Markets closed higher yesterday.
- Right now Dow futures are slightly lower.
- Asian markets are slightly higher.
- SGX Nifty is near 17400.
- Suggesting a slightly positive opening for today
- Yesterday was a pleasant surprise for many.
- Yesterday I advised to short with a stoploss of 17050.
- The short trade worked well in first half.
- In second half Market started to rally and later we got to know that Russia troops have gone back.
- The War fears have been escalating over past many days.
- Yesterday's news was a relief and as soon as 17100 was crossed there was a huge short covering.
- The short covering was so huge that Market rallied 250 points in 2 hours.
- So one more time 16800 is successfully handled by the Bulls
- Has everything turned positive yesterday?
- The answer is NO.
- Yesterday can be termed as a relief rally and markets could go further to 17600 as well.
- Larger problems like Rate hikes , Inflation and FII selling still remain.
- 16800 to 17800 is the range in which Markets are moving violently.
- This is a turnaround Market and the reversals are so huge on both sides.
- Positional traders are being chopped off.
- Intraday is the only way from here.
- Volatility needs to cool down a bit for Markets to make further big trend from here.
- If you have made money over last 2 days now it's time to be patient and take a day or two off.
- Markets have the Tendency to take it back quickly.
- Nifty might Trade between 17200 to 17500 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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