- U.S Markets closed lower on Thursday.
- Asian markets are all lower.
- Dow futures are lower right now.
- SGX Nifty is down 250 points.
- Indicating a huge gap down at the open.
- Reason is the Global markets underperformance plus not so good corporate results.
- Infosys has disappointed and missed earnings by street estimates.
- Infy ADR was down 9% in last 2 trading sessions in U.S
- Hdfc bank also missed earnings but asset quality has been improved.
- Today we can expect huge gap down openimg in infy.
- Hdfc bank has limited downside left because it has already fallen a lot after the merger news.
- 17150-17200 is a strong support on Nifty and this is where 200 DMA kicks in.
- If you are a Bull this is a large support area.
- Markets are oversold and this offers a good opportunity to go long.
- Nect support comes in at 17k.
- If global markets keep declining then no support would work.
- Bank Nifty 200 DMA kicks in at 36800.
- Bank Nifty looks much stronger than Nifty currently as IT isn't included in it.
- After such huge gap down there's no point shorting the Market.
- Pullback rallies can be quick and speedy.
- So look for levels to go long for a Intraday recovery.
- The Bull trend changes below 17200.
- If we close below 17200 on nifty then it's time to be bearish.
- Great companies may underperform for few quarters but that doesn't mean they have suddenly lost their mojo.
- Infosys is a great company and this underperformance is a great opportunity to accumulate for long term.
- Because 17200 was the recent high and then we went all the way below 15700 during war.
- Nifty might Trade between 17200 to 17500 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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