- U.S Markets closed slightly lower yesterday.
- Asian markets are slightly lower too.
- SGX Nifty is down 30-40 points.
- Yesterday was a highly volatile day trading day.
- Whole of August markets were trending.
- But this last week markets have been hugely volatile and making large moves on daily basis.
- Unless this Fed event subsides expect markets to be the same way.
- India VIX was higher yesterday too.
- Yesterday markets broke important support of 17500 but closed above this level towards the end of the day.
- Adani group stocks were hit badly yesterday.
- There was a report from leading credit agencies that said Adani group stocks are debt laden.
- Debt is overpowering in this group and that could cause a damage financially.
- Adani is also competing Reliance is few of the businesses and that could bring a price war.
- It's better not to discuss Adani group stocks as the valuations are sky high and trading there is next to impossible.
- It's news driven stocks.
- My experience with news driven stocks particularly when they keep hitting fresh highs says just to be away from this counter.
- Bank Nifty after 2 bad days of crash stabilized yesterday.
- Expecting consolidation with huge Volatility today as well
- Nifty might Trade between 17400 to 17700 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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