- U.S Markets closed higher Yesterday.
- Right now Dow futures are higher by 140 points.
- Asian markets are higher.
- SGX nifty is indicating a gap up opening.
- Yesterday as anticipated Fed increased the interest rates by 75 basis points.
- This is the largest increase since 1994.
- There was a relief rally due to the same in U.S market and U.S VIX crashed 10%.
- How long will this relief rally go on is a big question.
- Our Markets were terrible yesterday.
- Everybody is shorting left , right and center.
- Yesterday all Put options premiums raised in last 30 mins.
- Even 15200 PE which is 500 points away from spot rose from 4rs to 13rs.
- Today we might get some short covering as we open and even head higher.
- 16000 should be a firm resistance for the day.
- I won't chase this gap up because when Market reverses it's with great speed.
- I'll look to short near 15950-15980 with a stoploss of 16020.
- In Bear markets the rallies sre quite ferocious but again markets make fresh lows.
- So remember you are only playing a pullback rally when you go long and not a trend reversal one.
- Nifty might Trade between 15650 to 16000 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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