- U.S Markets closed lower yesterday.
- It was the last day of the Financial year and investors seemed to have taken out some profits.
- Our markets were firm and we're trading within a flat range yesterday.
- SGX Nifty is down 50-60 points
- 17400-17425 is a very good support zone immediately.
- This is the zone to go long at first with 30-50 point stoploss.
- This is a buy on dip Market.
- FII's & DII's both have turned net buyers since last 2 trading sessions.
- This indicates strength and momentum on the upside immediately.
- Right now Dow futures are higher.
- Asian markets are flat.
- First couple of trading sessions decide the course for the whole month.
- If we manage to cross 17500 and sustain then doors for 17800 is open.
- 17600 is the pre war low so this will act as a next week resistance after 17500.
- India VIX was higher slightly yesterday.
- Bank Nifty is near 200 DMA and it has still some unfinished business.
- 38000 could easily surpass on the Bank Nifty from here.
- This will drive the momentum for Nifty
- Axis Bank has taken over Citi Bank so expect Axis Bank to outperform among banks.
- Nifty might Trade between 17380 to 17600 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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