- U.S Markets closed lower Yesterday.
- Yesterday was 2nd consecutive day of negative closing in U.S
- Right now Dow futures are slightly higher.
- Asian markets are trading mixed.
- SGX Nifty is trading close to 17370.
- Today we are about to open flat / positive
- Yesterday was an intense volatile trading session.
- Nifty and Bank Nifty have made huge swings yesterday.
- This is because of Global issues.
- U.S - Taiwan issue has been escalating from past 2 days.
- Due to this markets are jittery.
- India VIX inched 6% higher yesterday.
- 17200 PE has the highest open interest.
- Traders must have sold it near 30-40rs so 17200-17170 should be a very strong support for Nifty
- Yesterday as well Nifty bounced back very close to 17200 itself.
- Bank Nifty is in a raging Bull Market of its own.
- SBI has rallied one way from 450 to 540 yesterday.
- 550 was the previous all time high of SBI.
- SBI has its results on Saturday and I am expecting Blockbuster numbers.
- Once 550 is taken out then there's no resistance on higher side.
- So please keep this stock on radar.
- Nifty might Trade between 17200 to 17450 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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