- U.S Markets closed higher on Friday.
- Right now Dow futures are higher.
- SGX nifty is higher & trading at 15900.
- Markets all over the World are witnessing a short covering rally.
- All the Markets are up and there's greenery everywhere.
- There's a saying that when markets go higher on bad news that's when it has bottomed out.
- Even after persistsnt Inflation issue pointed by Fed markets have been moving higher from last 4 trading sessions.
- Is the worst already discounted or more is yet to come?
- I don't think the worst is already discounted.
- This could again be a dead cat bounce like many bounces happened in the past.
- 16000 CE has highest open interest.
- For this expiry.
- So if you are long this is a good place to take off profits.
- Also after such huge gap up going long doesn't favour risk reward.
- There are 4 Trading days left for expiry.
- So the Theta decay would be quick.
- 15700 to 16000 opens up now
- Markets closed at 15700 on Friday.
- Whenever there are large breakouts they are mostly by huge gaps.
- As big players do not want retailers to participate.
- Nifty might Trade between 15700 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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