- U.S Markets closed slightly lower yesterday.
- Right now Dow futures are slightly lower.
- SGX Nifty is down 40-50 points.
- Nifty is likely to have a gap down opening today.
- Yesterday was a terrific expiry for Bulls.
- Usually on monthly expiry big moves are expected.
- As too many contracts expire on the same day.
- Yesterday it was the same story.
- As soon as nifty broke out of 18400 , there was a huge rally.
- In just 30 minutes nifty shot up 70-80 points.
- Now the Nifty future premium for December series is too high.
- Nifty future is trading near 18600-18650.
- Such huge premium indicates excessive bullishness in the markets.
- Yesterday sensex and bank nifty hit all time highs.
- Now , 18000 is a very strong support.
- We might have resistance at 18600 nifty spot.
- Once this is taken out then next resistance is only at 19k.
- The trend is bullish and markets are Bullish too.
- Nifty might trade between 18350 -18600 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
Comments