- U.S Markets closed mixed on Friday.
- Right now Dow futures & Asian markets are lower.
- 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.
- The War is worsening day by day with no signs of compromise / settlement yet.
- There have been many attempts of peace talks but all have been in vain.
- All this have kept the markets highly volatile.
- Commodity prices have been changing 3-4 times a day with moves.
- Previously , there used to be hardly 1-2 % change.
- Imagine the plight of business traders dealing in steel etc.
- PVR and Inox announce merger to form India's biggest multiplex chain.
- While this merger is looking beneficial for Inox shareholders as it's at a premium of 17%.
- The important point here is would they get the approval of competition commission.
- I think it's quite difficult as this merger would cause an effect on competition.
- Bank Nifty is underperforming as compared to Nifty as crude keeps rising
- Financial stocks keep taking the hit.
- For whole of 2022 , Market has gone everywhere , been highly volatile but on close to close basis it's just flat.
- 17200-17300 was the Jan 1 level and today also we are at the same.
- Nifty might Trade between 17000 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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