- U.S Markets closed lower Yesterday.
- Asian markets are mixed.
- Dow futures are slightly lower right now
- SGX Nifty is flat.
- Yesterday as well it was a very flat day.
- Nifty traded within a small range of 16560 to 16700.
- This might be because markets are now waiting for the Fed event.
- On Wednesday we do have Fed event coming.
- Fed will decide about the Interest rates etc.
- From there on traders & Investors will get a clue.
- Reliance dragged the nifty yesterday.
- Reliance was down more than 3% yesterday
- Bank Nifty facing stiff resitance near 37000.
- As soon as Bank Nifty touched 37000 there was a heavy sell off.
- Nifty is facing huge resistance near 16700.
- So I expect this sideways move to continue till Fed event.
- After Fed event itself market market will go one way or the other.
- India VIX inched 6% higher yesterday.
- Premiums are not coming down on the back of event.
- Nifty might Trade between 16500 to 16700 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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