- U.S Markets closed lower on Friday.
- 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 have now turned clearly bearish.
- The most worrying sign now is U.S VIX.
- U.S VIX closed above 30 on Friday.
- VIX above 30 is a dangerous sign for the markets.
- This shows the fear is extreme.
- Generally, when the fear is extreme the Volatility is also the extreme.
- The trend has now turned clearly bearish
- U.S Markets have now broken Russia - Ukraine war lows.
- 15200 was our low during Russia - Ukraine war.
- We are still 2000 points away from those lows.
- Our markets have been outperforming compared to rest of the Global markets.
- The only Question is for how long?
- For how long can we keep outperforming the Global markets is a million dollar question.
- Bank Nifty which was providing strength to the markets in last 2 weeks has also turned bearish.
- Infact it's worse than Nifty.
- 17200 is a very strong support for Nifty now.
- If 17200 breaks then we head towards 17000.
- Nifty might Trade between 17200 to 17500 today.
- Will try a long near 17200 as markets are oversold for a short covering bounce.
- If it fails will short again.
- 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
Comments