- U.S Markets closed lower Yesterday.
- Asian markets are mixed.
- Dow futures are slightly lower right now
- SGX Nifty is down 40-50 points.
- Markets in last 1 week have rallied more than 800 points.
- There was a rally across the Globe markets.
- We participated in that too.
- At the beginning of the month FII's short positions were 80%.
- Now it has come down to 55%.
- They have covered their aggressive short bets.
- Perhaps because of the same there was a huge rally on the upside.
- This raises an important question.
- As FII's have covered most of their aggressive short bets.
- Is the rally of the upside capped in near term?
- Else will the rally keep continuing.
- I sense the Market might consolidate/ trade sideways from here on.
- 16400 to 16800 I sense would be the range of short term consolidation.
- Then we decide what goes on from there.
- Continues rally and steep fall after large rally both aint good In the long run.
- There were many results decalred over the weekend.
- Infy & Reliance results were okay- ish.
- We will also be having Fed event on Wednesday.
- Markets might remain jittery going into the event.
- ICICI Bank was once again quite spectacular results.
- Nifty might Trade between 16540 to 16800 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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