- U.S Markets closed lower on Friday.
- Dow futures are higher right now
- Asian Markets are mixed.
- SGX Nifty is lower by 100 points
- We will have a gap down opening today as per SGX.
- On Thursday, Inflation numbers were announced in U.S.
- Inflation numbers were not as per expectations and still there was a huge rally
- On Friday there was selling once again.
- So markets are trading with huge Volatility but within a range.
- Nifty broader range is 16950 to 17400.
- We have huge open interest at 17000 PE & 17400 CE for monthly expiry.
- Remember that next week Is Diwali and there would only be 3 trading sessions.
- India VIX also crashed 10% on Friday.
- This shows traders are betting for a rangebound market.
- HDFC Bank results have come above Expectations.
- This week we will be having results of other banking companies too.
- This is likely to be a stock specific week than index week.
- Apart from Quarterly results there's no fresh news that markets would be eyeing for.
- Plus festive season too so the sentiment is positive.
- Also the companies which have declared results upto now have mostly been good apart from Wipro.
- Nifty might Trade between 17000 to 17300 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
Comments