- U.S Markets closed flat Yesterday.
- Right now Dow futures are lower.
- SGX nifty is flat.
- Yesterday it was a downward trending day.
- Nifty found resistance near 15700 on Tuesday and then weakened from these levels.
- 15400 was a good support yesterday.
- So today the most important level to watch out is 15400.
- One can go long near this level with a 50 point stoploss.
- But if 15400 breaks and Market starts to weaken then 15200 opens up.
- Yesterday U.S Fed said that they are doing their best to control Inflation.
- Rate hikes are the only possible tools and U.S Stock Market Recession should continue.
- This wasn't a pleasant statement made by Fed.
- Yesterday U.K inflation data was announced and it was at 9.1%.
- This is the 40 year high Inflation number.
- Because of this Markets all over the World witnessed sell off yesterday.
- Today expiry should be range bound and don't expect big moves on either side.
- Midcaps and small caps are crashing like no tomorrow.
- Nifty is misleading as it's only 19% down from top.
- The real pain is in Mid and small caps.
- Most of these have fallen 30-50%.
- We have to get through the pain in order to witness good times.
- Nifty might Trade between 15380 to 15600 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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