- U.S Markets closed lower Yesterday.
- Dow futures are lower right now
- Asian Markets are lower.
- SGX Nifty is down 100-120 points.
- We are likely to open straight near support zones of 17400-17450.
- After a good sharp rally for many days , Yesterday was a sort of profit booking day.
- A positive thing from last 1 Month is markets have been trading within range.
- Yes , the Volatility is high but its within a specified range.
- Going forward , I expect the Volatility to decrease.
- Today's dip is a good buying opportunity.
- 17400 should be the stoploss for long traders.
- This turns the risk - reward in favour of Bulls.
- Next week is a truncated one
- There are 3 complete trading sessions for next week expiry.
- Im expecting an inside candle today.
- Inside candle means Nifty might Trade within yesterday range itself.
- Maybe 17400 to 17600 to be today's range.
- If markets trade rangebound today , the premiums of options would erode further.
- Nifty might Trade between 17400 to 17600 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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