- U.S Markets were closed Yesterday
- Right now Dow futures are Lower.
- Asian markets are mostly lower.
- SGX Nifty is near 17000.
- Suggesting a big gap down start for the day.
- This is due to the ongoing uncertainty around Russia - Ukraine war.
- Markets can handle good news , markets can handle bad news , but Markets cannot handle uncertainty.
- In Uncertain times , the worst gets discounted in the Markets.
- Later when the uncertainty is out Market rallies once again.
- Another disturbing thing is the India VIX going up almost everyday from last 3 days.
- Without any corresponding bad news india VIX going higher is a worrying sign.
- Yesterday VIX closed at 23.
- Today we might close near 24 as we are already expecting huge gap down open.
- 17000-17050 is the first support area for the day.
- Once this gets taken out the support emerges at 16850 -16800 area.
- 17500 has the highest open interest among calls.
- One can try a long trade near 17000-17050 with a stoploss near 16950.
- This a very good risk reward trade.
- Nifty might Trade between 16980 to 17300 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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