- U.S Markets closed lower Yesterday.
- Right now , Dow futures are slightly higher.
- SGX Nifty is hovering around 17300.
- After a long time we are going to have a flat opening.
- Everyday we have been used to gap up / gap down openings.
- Yesterday I had advised not to chase gap up.
- Markets rallied more than 500 points
- And another gap up doesn't have risk reward in our favour.
- Buying Opportunity was close to 17200-17250 and today we might get that opportunity.
- Upper resistance comes around 17500.
- Expect Nifty to consolidate within this range for a while
- If 17200 breaks we would be retesting 17000.
- Bank Nifty has also recovered from lows.
- Financials are showing strength.
- Today is Friday and generally Friday's are highly volatile.
- FII's like to book profits on their positions so they might do some profit booking today in 2nd half.
- FII short Positions are between 75-80% now.
- This indicates a highly oversold territory.
- Nifty might Trade between 17180 to 17480 today
- stockmarketadvisory.in
1.U.S Markets closed higher Yesterday 2. U.S Futures are trading higher now. 3. Asian markets are higher. 4. Global cues are positive currently. 5. U.S Markets have made a short term bottom and now have reversed. 6. Gift Nifty is up more than 100 Points. 7. Yesterday was a big surprise to everyone. 8. Contrary to the exit Poll , things have been changed dramatically. 9. Exit Polls indicated a cakewalk win for the BJP. 10. Reality of the Ground level was entirely different. 11. There is BJP Govt forming but with a Coilition Govt. 12. Coilition Govt changes many aspects. 13. Firstly , the Govt cannot take decisions on its own. 14. It has to get approval of other parties as well. 15. This would hamper the growth prospects and future plans. 16. Last 10 years , the Government had come with a simple majority. 17. They worked freely. 18. This is a way good for democracy 19. One Govt dominating is not good for the Country , now everyone has to work for welfare of Country. 20. Com
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