- U.S Markets closed lower yesterday.
- Right now Dow futures are slightly higher.
- SGX Nifty is flat.
- Nifty is likely to have a flat opening today.
- This flat SGX has become regular affair now but market not respecting SGX.
- Opening is not as per what SGX is indicating since many days.
- Yesterday nifty broke 18200 and traded below it throughout the day.
- This indicates bearishness in the market.
- The bearish view is for the current expiry itself.
- Next support would emerge at 18000.
- Momentum towards the upside seems lacking now.
- India VIX is below 15 steadily.
- Nasdaq has started to break into pieces.
- This has again triggered a sell off in Indian IT stocks.
- Bank Nifty outperformed nifty yesterday.
- Nifty underperformance is majorly due to IT stocks.
- Many ultra rich businessman are laying of staff and are anticipating a recession.
- Jeff bezos even said it openly about the same.
- Nobody knows in certainty what the future holds but going by current facts India is the least likely to face recession.
- We may follow Global markets and events in short term.
- Fundamentals would Take over later
- Nifty might trade between 18000-18300 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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