- U.S Markets closed lower yesterday.
- Right now Markets are flat.
- Yesterday India VIX shot up 8% without any negative news.
- Premiums on both the sides are quite higher.
- Calls and Puts both are commanding higher premium.
- This is because of India VIX rise.
- India VIX rising without any big negative is a matter of concern.
- FII's who bought aggressively before weekend on Thursday have sold aggressively yesterday.
- Yet again they might start their selling spree once again.
- This is what is going on since last 6 months.
- FII's keep selling , DII's keep buying.
- Market becoming highly volatile.
- 17500 , 17600 CE in weekly options has the highest open interest.
- IT index has supported Nifty all the way from lower levels.
- Now I feel they should stabilize and it's upto the financial stocks to give leadership.
- SGX Nifty is at 17200 now.
- 17300 is a strong resistance for Nifty.
- Once we close above 17300 will we see fresh buying.
- Crude oil again goes above 110$ & this is a negative news in short term
- Until then we can expect rangebound move with slight negative bias .
- Nifty might Trade between 17050 to 17350 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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