- U.S Markets closed higher yesterday.
- Global cues have finally turned Positive in short run.
- SGX nifty is up 60-70 points.
- Amazon declared results after Market hours.
- Due to Poor Guidance , the stock fell 8-10% after results in pre Market.
- Apple in spite of beating street expectations is down 3% due to cautious guidance for the next quarter.
- Asian markets are higher.
- Yesterday it was a surprising and a fantastic expiry for Bulls
- I had pointed out it wasn't the time to go short and focus on building longs.
- Market has obliged.
- Now I sense the momentum and upside could continue further.
- Both FII's & DII's were net buyers yesterday.
- Remember this is an year of Mean reversion and not a trending year.
- So when markets rally a lot that's when it's the time to short near all time highs.
- When markets crashes and bleeds look for longs.
- This is a reversing Market with huge Volatility.
- Contra trades would only succeed in such Market.
- After yesterday's rally we have turned into buy on dip mode.
- Most importantly , US VIX has crashed 10% yesterday.
- Expecting India VIX to go down by 4-6% today.
- IT has been underperforming from quite some time , this is the time to accumulate IT stocks and HDFc twins.
- These are quality themes in the long run
- Nifty might Trade between 17200 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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