- U.S Markets crashed on Friday.
- Asian markets are down.
- SGX Nifty is down 400 Points.
- This is a serious & a large gap down.
- On Friday , Fed Chairman indicated pressure for the Economy.
- He also hinted recession in U.S is highly likely and rate hikes are the only option to curb the pressure.
- This has led to a massive sell off in U.S Markets.
- Dow Jones crashed 1000 points on Friday and S&P 500 and Nasdaq crashed % each.
- U.S VIX rose 15% on Friday.
- This indicates fear among traders.
- I expect U.S Markets to break the recent lows.
- The recent low was near about 3600 on S&P 500.
- Which is 10% lower from the current levels.
- Indian Markets might not fall as much as Global markets.
- But we will definitely not go higher.
- My view is Bearish right now.
- There may be short covering bounces which may surprise you in between.
- Also the Volatility will be extreme from here.
- Stoploss for Short trades is 18k.
- Downside targets are open and will be updated based on markets trend.
- 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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