- U.S Markets closed higher on Friday.
- Dow Jones closed 1000 points higher.
- It was a huge short covering rally.
- U.S markets have now recovered more than 10% from their 52 week lows.
- This is a great recovery considering global cues.
- Right now Dow futures are slightly lower
- SGX Nifty was above 18k over the weekend.
- From last 3 trading sessions , SGX Nifty showed an opening above 17900.
- But on all the occasions we have opened close to 17800.
- Will we open today exactly what SGX Nifty has been suggesting.
- 18000 would be a resistance for this expiry.
- Aggressive calls have been written plus it's a round number.
- Round number acts as resistances / supports.
- Bank Nifty was outperforming for whole of October expiry.
- Last 2 trading sessions Bank Nifty has been witnessing serious underperformance.
- This is dragging Nifty too.
- Reliance is keeping Nifty in check.
- If we open below 17800 today and cross it during the day then we would be heading towards 18k.
- The pace of markets has been reduced considerably.
- Markets have been trading in a narrow range in Intraday.
- Nifty might Trade between 17700 to 18000 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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