- U.S Markets closed lower Yesterday.
- Right now Dow Futures are higher
- Asian markets are higher
- SGX Nifty is up 50 Points.
- Yesterday was a highly volatile session for our Markets
- Markets were resilient for most of the day.
- Last 30 minutes we had huge sell off in Nifty & Bank Nifty.
- The most important question is
- If yesterday wasn't an expiry would we have such huge sell off yesterday?
- I think Yesterday's fall was partly due to expiry related issues.
- Those who sold put options yesterday might have faced trouble and wait for 3.30 for options to go zero.
- Finally when at 3 pm market isn't in their favour they sell off their Positions.
- This led to huge crash in last 30 minutes.
- Facebook declared results yesterday and the stock fell 26% due to poor results
- Today Morning Amazon , Snapchat and Pinterest have come up with results and all are above estimates.
- All the stocks are rallying today.
- So this is a complete U-turn compared to yesterday.
- 17500 PE has 2nd highest open interest in monthly options.
- This should be a good support going ahead.
- Market is still a buy on dip and I feel yesterday's sell off was majorly due to expiry related issues.
- However if we break 17500 then I will turn slightly bearish.
- Nifty might Trade between 17480 to 17800 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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