- U.S Markets closed higher on Friday.
- Asian markets are mixed.
- Dow futures are lower
- SGX Nifty is higher by 90 points.
- Markets are on steroids.
- There is non stop rally from 16400.
- Markets made a low of 15200 and now have recovered 2000+ points.
- Nifty & Bank Nifty are above 200 DMA which indicates the strength in overall market.
- Markets rallying one way without consolidation in between is also not good
- As and when the profit booking arrives it will be very severe.
- Fed event is out of the way now.
- Now this week we have RBI meet which will be in focus.
- China - Taiwan news is floating around which I sense won't have any major impact as of now.
- If this thing escalates then we have to see the impact.
- 17000 is a good support and now resitance will come around 17300-17400 on Nifty.
- Markets texture has now been changed.
- Previously it was a sell on rally market.
- Which had huge Volatility going.
- Now its a buy on dip phase.
- Nifty might Trade between 17100 to 17400 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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