- U.S Markets closed lower Yesterday.
- Right now Dow futures are higher by 140 points.
- Asian markets are mixed.
- SGX nifty is indicating a 50-60 point gap down.
- Yesterday was a mayhem over all the asset class.
- Stock Market , Commodity and Crypto all fell.
- Yesterday Nifty has closed near the lower end of the range.
- 15750 was the Russia - Ukraine low.
- This low was defended in the Month of May as well.
- Yesterday this level got broken.
- Last hour recovery helped market to close above this level.
- U.S VIX was up 20% yesterday.
- India VIX inched 15% higher yesterday.
- VIX inching higher is a worrying sign.
- Right now sentiment is extremely bearish.
- There is huge call writing from 15800 to 16200.
- There's no significant Put writing.
- So we are in a highly oversold territory.
- For any rally from here we need some positive triggers.
- So that shorts are out and Market rallies.
- Right now that doesn't look likely.
- We may continue to be in oversold territory for more time.
- Once we get closing below 15700 then we will have more downfall.
- Nifty might Trade between 15600 to 15900 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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