- U.S Markets closed lower yesterday.
- Right now Dow futures are higher.
- Asian markets are mostly higher.
- SGX Nifty is near 17200.
- Suggesting a positive start for the day.
- Yesterday I had mentioned that Russia invading 100% of Ukraine is less likely
- The way Putin is announcing in Public and sending troops shows that he just wants sanctions
- War is done secretively and not by announcing it to the World.
- 16850 was tested yet again yesterday and yet again Market found support from there
- Now I feel this level won't be broken unless we get some other negative news out of the blue.
- Broader Market seems to be collapsing.
- Midcaps , small caps plus most of the large caps are down from their highs significantly.
- Has everything turned positive and we March on from here?
- I don't think so.
- Still we have many major issues wrt. LIC IPO , inflation and Fed policy
- Right now market is hugely volatile and trading within a range of 16850 to 17350.
- 16850 is 200 DMA and 17350 is 20 DMA.
- Expect this consolidation to continue until global markets settle.
- I somehow feel this is not the time to short the markets.
- This is the time to go long
- Just some positivity can take this Market to 17600-17800.
- All global markets are hugely oversold as well.
- Risk reward is to go long on dips with stoploss of 16850.
- Nifty might Trade between 17100 to 17400 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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