- U.S Markets closed higher on Friday.
- Right now Dow futures are Flat.
- SGX Nifty is flat.
- Asian Markets are mixed.
- There wasn't any major newsflow over the weekend.
- Nifty on Friday retested 17800 and bounced from this level.
- 18000 is a stiff resistance from here on.
- On Friday bank Nifty closed above 40k significantly.
- Which is quite a Bullish sign for Banks.
- FII's were net buyers on Friday.
- DII's were net sellers.
- FII's shorts now stand at 78% .
- U.S August Inflation data is due tomorrow.
- Markets are likely to be jittery on the back of the Inflation data.
- Until the data gets announced expecting a sideways market.
- SBI has crossed it's 52 week highs & has been fresh all time highs on a daily basis now.
- For Momentum traders and trend followers this is the stock to watch.
- I strongly feel if Bank Nifty has to rally it should be with the help of SBI.
- Nifty might Trade between 17700 to 18000 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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