- U.S Markets closed lower yesterday.
- When we were trading Dow was up 300 points
- All these gains have been given up during trading hours in U.S.
- Asian markets are lower.
- SGX nifty is below 16k.
- Right now Dow futures are flat.
- Yesterday Nifty for a moment broke 16k.
- In the final hour we witnessed relatively strong short covering rally.
- Yesterday we had the U.S Inflation numbers and they were higher than expected .
- 8.1% was expected but it came in at 8.3%.
- Because of this U.S Market cracked yesterday as well.
- 16000 PE has the highest open interest both in weekly as well as monthly so these Put writers should face trouble today.
- Every minor bounce is being sold into
- Mid and small caps have been butchured and this is just the beginning.
- This is the beginning of a bear Market and these stocks will be taken to cleaners.
- Portfolios have been taking s big hit in recent times.
- Momentum is strong towards downside and any minor bounce is being sold into.
- The hope was U.S Inflation numbers could turn around the game but it was also a big disappointment.
- This May month Nifty touched 17400 and fell all the way to 16000.
- This is a 1400 point decline in less than 9 trading sessions.
- Yes the markets are oversold and they could continue to be oversold for longer duration.
- Same when they were overbought for whole of 2020.
- Personally I like these corrections because it corrects a lot of froth , misvaluations and stocks come back to valuations they deserve or even lesser.
- All the fancied IPO companies are down by 50-60% each.
- Nifty might Trade between 16000 to 16200 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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