- U.S Markets closed slightly lower yesterday.
- Right now Dow Futures are mildly Positive.
- Asian markets are mixed.
- SGX nifty is down 30-40 points.
- Yesterday in Spite of SGX nifty showing a bigger gap up we opened slightly negative.
- Throughout the first half until 1 pm we traded almost flat.
- Then after 1 pm there was a huge selling.
- Nifty fell to 16450.
- Last 30 mins there was a meaningful recovery of 50-70 points.
- It could be said as a rangebound consolidation with good amount of volatility.
- As I've kept on saying 16400 to 16800 is the range for Nifty.
- Nifty is trading within this range in last 3 trading sessions.
- Today we are likely to expire within this range itself.
- Markets stabilizing after Mayhem in May is in itself a positive aspect.
- Yesterday U.S VIX again closed lower.
- It's now at 26 .
- Below 25 is a comfortable position for U.S VIX.
- Below 20 is a comfortable position for India VIX.
- Look to buy Nifty near 16450-16400 with a stoploss of 16350 and look to sell near 16700-16650 with a stoploss of 16750.
- The only way to make money out of ranging markets is trading the boundaries.
- Nifty might Trade between 16400-16600 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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