- U.S Markets closed flat yesterday.
- Right now Dow futures are lower.
- Asian markets are lower.
- SGX nifty is indicating 100 points gap down.
- This seems to be a action replay of yesterday.
- Yesterday as well we opened with same gap down
- Defended the lower range of 16400 and moved higher.
- Today as well we are again retesting the lows as per SGX.
- Not much has changed within 24 hours so I believe lows to to defended today.
- 16400 should be kept as a stoploss for long positions.
- Once this is taken out then expect more downfall.
- There is high open interest in all the call options.
- Put options below 16300 have added good open interest as well.
- So the range seems to be pretty clear.
- Bank Nifty has showed strength yesterday and it's likely to continue.
- 35000 is a strong support.
- Yesterdays low is to kept on track as it offers a great buying opportunity.
- There will be a lack lustre price action so be modest and take small gains.
- Nifty might Trade between 16380 to 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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