- U.S Markets closed higher yesterday.
- Right now Dow futures & Asian markets are flat.
- SGX Nifty is higher by 40-50 points.
- Indian Market is in a consolidation mode.
- 17000 to 17500 is the range and this consolidation is with huge Volatility.
- Big one sided trend would develop only once this range gets taken out.
- Until then this would continue to be a ranging Market.
- Last time , when the Crude prices crossed 125$ Nifty was at 15700.
- Now again crude prices are rising but markets are resilient.
- Only 1 major reason is that FII's have stopped selling as they used to do before.
- Since the day BJP has won elections FII's have sold very less compared to before.
- In some situations they have bought as well.
- This is what is keeping the markets resilient.
- Bank Nifty would be under serious pressure as long as crude prices keep rising.
- Inflation also is a big worry as commodity prices keep going higher.
- Another factor Is the global markets rally.
- U.S markets are also above 200 DMA and they have also been rallying.
- This is also keeping the markets resilient.
- Right now the view is rangebound between 17000 to 17500.
- Trending move would develop only after this range breaks.
- Nifty is likely to outperform as compared to Bank Nifty.
- There's no positive news from Russia - Ukraine front.
- It's better not to carry positions over weekend and stay very light.
- This is a highly volatile market and can turn in minutes.
- 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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