- U.S Markets closed flat yesterday.
- Asian markets are mixed.
- Dow futures are slightly lower.
- SGX Nifty is as flat as it can get.
- Yesterday market opened with a big gap up.
- After opening with a big gap up the momentum continued throughout the day.
- Market once again closed at the highest point of the day yesterday.
- Today is the weekly expiry for option contracts.
- Expecting a rangebound expiry.
- With slightly positive bias.
- Nifty IT Is back with a bang followed by Banks.
- Indusind Bank posted results yesterday and it beat Street estimates.
- FII's once again were net buyers yesterday.
- FII's are momentum traders.
- When they start selling they keep selling selling and selling.
- When they start buying they buy buy and buy.
- That's why traders always look at FII figures to get a clue regarding market movement.
- 16600 should be a good resistance for the day.
- Followed by good supports near 16500,16400.
- Nifty might Trade between 16400 to 16620 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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