- U.S Markets closed higher Yesterday.
- Asian markets are mostly higher.
- SGX Nifty is up 200-250 points.
- Nasdaq closed higher by more than 7%.
- All the shorts were taken to cleaners yesterday in Technology numbers.
- U.S Inflation eases to 7.7% in October.
- Inflation cooling down is a good sign for the economy.
- Also going ahead people are expecting it to reduce further.
- This has created a huge short covering rally yesterday.
- 18300 is a stiff resistance for us.
- Once we cross this level we would be moving towards all time high.
- Until yesterday I was bearish because I didn't expect Inflation numbers to change the game so rapidly.
- As Inflation eases, expecting buying to emerge into Technology stocks as well.
- Expecting money to shift from Banking to Technology stocks.
- Yesterday could be termed as relief rally across global markets.
- Continuation of the same would gather momentum.
- 18300 for nifty.
- 42k for Bank Nifty are critical zones.
- Once these levels are taken out we can be expecting further momentum.
- Nifty might trade between 18100-18350 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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