- U.S Markets closed higher Yesterday.
- Dow futures are slightly higher right now.
- Asian markets are higher.
- SGX Nifty is up 200 points.
- Yesterday we had a very flat session.
- Nifty traded within a small range of 100 points throughout the day.
- Markets were waiting for the U.S Inflation data to be out.
- Expected Inflation was 8.7% but it came at 8.5% which was much lower than expected.
- This led to a fierce rally in the markets all over the World.
- U.S VIX crashed 10% yesterday.
- This is because another event now is out of the way.
- Now 17500 becomes a very strong support after today's big gap up.
- Many market participants still not believing this rally and calling it as a Bear market bounce.
- I do not think so.
- Bull market has started in July and this is a continuation of the same
- FII's have been net buyers in previous 9 trading sessions.
- They are on a buying spree and once they begin to buy they usually do not stop.
- Today all the call writers would be in trouble.
- 17600 , 17650 , 17700 added good open interest yesterday.
- All these will be in trouble at open.
- This will push the Market higher.
- Nifty might Trade between 17600 to 17840 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