- U.S Markets closed lower on Friday.
- Asian markets are lower.
- SGX nifty is down 200 points.
- So there is a huge gap down in store.
- Every day we are opening with big gap down in the month of May.
- U.S markets are finding some support near 52 week lows.
- How long will this sustain we have to see.
- Yesterday night all the crypto currencies fell at least 5%.
- So it gave a clue that Dow futures could be negative.
- But it would be down more than 1% nobody expected.
- It's more likely that we would be heading to our 52 week lows as well
- 16000 PE has the open interest in monthly options as well as weekly.
- These are also in trouble right now because of such huge gap downs
- At each and every level there is large call writing now.
- All Call options above 16500 have huge open interest in monthly.
- FII's long position stands only at 22% and shorts at 78%.
- I haven't seen such bearish positioning by FII since Covid 2020.
- Just imagine if they cover 78% shorts itself this could lead Market higher .
- Right now things are looking quite bad and we seem to be heading to 15700 as well if 16100 is broken decisively.
- Nifty might Trade between 16100 to 16400 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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