- U.S Markets closed higher Yesterday.
- As soon as U.S Markets opened it fell 300 points.
- Then market rallied from -300 to +450.
- U.S VIX crashed 5% yesterday.
- SGX nifty is indicating almost 200 point gap up today.
- SGX nifty is close to 16800 today.
- Market is likely to open close to resistance levels today.
- 16400 to 16800 is the range in which we are trading this weekly expiry.
- So if 16800 is crossed 17000 and 17200 open up
- 16400 is a super strong support now.
- Yesterday Nifty opened close to lower range and today it's opening at higher range.
- So 400 point move in just 1 trading session.
- Yesterday expiry as expected was quite rangebound.
- Suddenly now everything seems to be okay.
- In May month it was world coming to an end when you look at stock market
- June has been a bullish beginning so far.
- Im not confident of chasing this gap up at open.
- Will wait for a retest of yesterday's low near 16650 or close to 16700 and will look to build longs.
- Today we also have U.S jobs data so again that effect will be seen on Monday.
- Better not to carry positions over the weekend.
- Nifty might Trade between 16650 to 16850 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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