- U.S Markets closer lower yesterday.
- Right now Dow futures are slightly higher.
- Surprisingly SGX Nifty is indicating a gap up today.
- Bears would love to sell this kind of gap up.
- In such a bearish trend gap ups tend to be sold into.
- Gap downs tend to be bought into.
- Yesterday Nifty opened with a large gap down.
- This gap down got bought into.
- Market was firm throughout yesterday after a large gap down.
- India VIX had crossed 20 Yesterday at open.
- IT Index after a large rally again seems to be under pressure.
- This year isn't a trending year for the markets.
- This is a complete Consolidation Year with huge sideways movements.
- In this market one cannot trade each and every day and also all the time.
- That becomes very much difficult.
- Whenever you say expect a 1000 point trade on index you enter take profits and sit on the sidelines.
- This is the best way to approach this kind of high volatile markets.
- I expect markets to be bearish over the short term.
- 17200 is a good support for Nifty & this got held yesterday.
- 17500 is a good resistance.
- Break of any of the two levels would lead to a trending move.
- Nifty might Trade between 17200 to 17500 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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