- U.S Markets closed mixed Yesterday.
- Dow futures are slightly higher right now
- Asian Markets are mixed.
- Indian Markets are highly volatile between 16750 to 17400.
- Within this range markets have been making wild swings.
- Yesterday Nifty did retest 16950 and bounced back sharply from there.
- Yesterday it was a sharp recovery and Nifty closed at the highest point of the day.
- Today we have weekly expiry.
- Generally weekly expirys are volatile.
- 16950 to 17200 is the range for expiry.
- In case if we break any of the levels then we might get a larger move during the day
- HDFC Bank will be delivering the results this weekend
- Banking stocks are expected to deliver good results
- Yesterday both the IIP and Inflation data came at negative.
- Inflation rose to 7.4% and Production also has recuced.
- So it's a double whammy on both fronts .
- Next leg of move will be decided by the results of the company's.
- Until then market is likely to stay sideways.
- Nifty might Trade between 16950 to 17200 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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