- U.S Markets closed lower Yesterday.
- Right now Dow futures are slightly higher.
- SGX nifty is indicating a 50 point gap up close to 16130.
- Asian markets are mixed.
- I do not know why SGX Nifty is up today.
- This might be due to cooling off in Crude Oil prices.
- Crude oil is now close to 100$ / barrel.
- Falling Crude Oil prices is positive for our Economy.
- As we are the highest importers of oil.
- Also the markets have been trading in quite narrow range.
- 16000 to 16250 is the range for Nifty.
- Volatility has reduced and also option premiums are at very low prices.
- One bigger move could easily make 2-3X gain in option prices.
- 16000 is an important support for Nifty.
- 16200 is likely to act as resistance.
- Within this range expect Nifty to be volatile.
- Bank Nifty looks quite solid compared to Nifty.
- TCS underperformance is effecting IT sector.
- Do not much downside from here in IT.
- Nifty might Trade between 15980 to 16220 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
Comments