- U.S Markets crashed Yesterday.
- Right now Dow futures are slightly higher.
- SGX Nifty is at 15750.
- Asian markets are mixed.
- Yesterday we had exit poll results.
- Exit Poll results cannot be trusted with 100% accuracy.
- In the past as well many of the times exit Poll results have gone wrong.
- Majority exit Poll show that BJP is likely to win UP again.
- This is a positive news for stock market.
- In Bearish times markets don't react to good news but react to bad news
- 15800 is a very important support on Nifty.
- Last year Market made a consolidation of 3 Months near 15800-16000 and then broke out.
- So technically it becomes a very important support this time as well
- If this breaks then 15500 -14800 open up.
- The falls will be equally fierce as the rallies.
- Market did rally one way and now falls will also be one way.
- Right now we have crude oil shock impact as well.
- Crude Oil has shot up to 130-140$ / barrel.
- In history I've observed , whenever crude oil stays higher Nifty always have given negative returns.
- Currency is also weakening day by day
- Rupee yesterday hit it's lowest level of last 1 year.
- All this makes worrying signs currently.
- Not advisable to short gap downs.
- Look for rallies close to 16000 to short .
- 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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