- U.S Markets closed lower yesterday.
- Right now , Dow futures are lower.
- Asian markets are lower.
- SGX Nifty is down 100-120 Points.
- Today we are likely to have a gap down opening.
- Markets yesterday were highly volatile.
- Reason was the gap down and also weekly expiry.
- Weekly expiry issues trigger huge Volatility Intraday.
- Markets yesterday opened lower then recovered close to 17700 followed by another round of selling close to 17550.
- Dow futures from negative turned positive & Nifty again went to days high.
- From there closing lower close to 17600.
- So it was all over the place yesterday.
- Issue is now with U.S Markets
- U.S Markets are making lower lows on a daily basis now
- Yesterday as well U.S markets closed lower.
- With Global sentiment being so bearish so cannot keep going higher at a brisk pace.
- 18000 is a strong resistance from here on.
- Generally last week of the month are more Volatile
- Gamma effect also kicks in.
- Yesterday Bank Nifty gave the first sign of profit booking
- Financials led the Market in last 1 month.
- Now people seem to be booking profits .
- Time to be cautious.
- Nifty might Trade between 17350 to 17650 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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