- U.S Markets closed lower Yesterday.
- Dow futures right now are slightly lower.
- Asian markets are down.
- SGX Nifty is down 120-150 points.
- Yesterday after a long time we again had some Volatility.
- SGX Nifty indicated 100 point gap up yesterday but we opened flat.
- Then it was a see-saw ride throughout.
- Market at one point of time turned green but again it was sold into.
- Market closing at the lowest point of the day indicates it was a profit booking day.
- After a huge rally there will naturally be some profit booking visible.
- So now we might go into Consolidation phase before rallying further.
- 17800 is a strong support for Nifty.
- 37000 for bank Nifty.
- After such huge rally everybody is long on the markets.
- Such one sided consensus often takes the Market on the other side and that's what we are witnessing right now.
- Market would attract more shorts / consolidate and then get further steam.
- Until then we should look for opportunities to go long.
- This is still a buy on dip Market.
- We may easily correct 1-2% from here on Indices and it's perfectly fine.
- Yesterday both the hdfc group stocks faced selling pressure at open.
- Midcaps and small caps performed extremely well yesterday.
- This shows there is a concentrated selling on the index heavy weights.
- Nifty might Trade between 17750 to 18000 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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