- U.S Markets closed higher Yesterday.
- Right now Dow futures are flat.
- Asian Markets are mixed.
- SGX Nifty is up 100 points.
- Yesterday Nifty opened near 17500 and witnessed a bounce.
- 17500 to 17800 is the range for Nifty
- Almost on a daily basis now market is testing the lower and upper end of the range
- Unless there is a clear indication of range being crossed we cannot expect a big move.
- Markets are likely to consolidate within this range itself.
- Bank Nifty is facing stiff resistance near 40k.
- This is a very important level for Bank nifty as it also acts as a psychological resistance.
- Can expect a one way rally only when 40k gets taken out.
- ITC is the stock to watch.
- 330 is the all time high for ITC.
- Above this there would be fireworks.
- Margin of safety is also quite high for ITC as it's a slow and steady stock.
- Stay away from Suzlon stock.
- There have been rumours about Adani investing into this company which has been clarified already.
- Adani has denied rumours.
- Still stock keeps going higher as people keep chasing it without applying logic.
- Nifty might Trade between 17500 to 17800 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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