- U.S Markets closed mixed on Friday.
- Right now Dow futures are lower.
- Asian markets are mixed.
- SGX Nifty is down 20-30 points.
- We are likely to open flat today.
- This is a truncated expiry as Tomorrow is a holiday.
- Premium decay will be faster for options.
- On Friday I was a bit puzzled looking at market reaction.
- Before every RBI meet VIX goes higher and so do option premiums.
- On Friday all options were already down 30% before the meet.
- This gave an Indication that RBI meet is probably considered as a non - event from market stand point.
- 17200 to 17500 is the range for nifty currently.
- Within this range Nifty is making wild swings.
- This week we have the most important U.S Inflation data coming up on Thursday.
- Before this Data markets could be sideways.
- Expected Inflation is 8.7%.
- SBI posted it's results and they were below Street estimates.
- Bank Nifty might underperform today.
- Nifty if crossed above 17500 should provide a huge short covering.
- 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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