- U.S Markets closed higher Yesterday.
- Right now Dow futures are slightly lower.
- SGX nifty is indicating a 100 point gap up close to 16260.
- Asian markets are mixed.
- Price action and Global markets action depicts market is unwilling to fall.
- There has been a lot of stability in our markets from past 13 trading sessions.
- Every dip is getting bought and Market is unwilling to go lower.
- Global markets as well are highly volatile but at the same time gradually moving higher.
- Most important is the VIX.
- U.S VIX is now below 25.
- India VIX crashed 5% yesterday and is now very comfortable below 20.
- Nasdaq has been outperforming now since past 2 weeks.
- Same with the Indian IT stocks as well.
- Indian IT stocks have bottomed out and are ready to fire.
- PSU banks are also on a roll.
- These 2 sectors should lead the recovery.
- First target of this pullback rally is 16400.
- If this is taken out then 16800 opens up.
- There won't be a one way move upwards there will be dips and falls in between.
- If I were you I wouldn't chase today's gap up.
- As we are sitting on a 400 point rally in past 2 trading sessions.
- I would wait for a dip and then enter.
- Nifty might Trade between 16100 to 16400 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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