- Dow Jones & S&P 500 closed flat yesterday.
- Nasdaq closed lower yesterday.
- Asian markets are mixed.
- SGX Nifty is as flat as it can be.
- Yesterday Nifty took out its all time high of 18607.
- After taking out its all time high , Nifty started racing towards 18700.
- Nifty went close to 18700 during the day.
- Last hour there was a heavy profit booking and Nifty once again crashed again 70-80 points from day high.
- This profit booking in last hour has been happening since two trading sessions.
- 18500 is now a crucial support for the markets.
- Generally , in the past as and when all time high is taken out , markets consolidate for a few trading sessions.
- Expecting markets to consolidate for this weekly expiry.
- Next leg of rally is highly Likely after a consolidation phase in the market.
- Markets rallying in straight line isn't a positive sign always.
- As when there's profit booking , it will be severe.
- FII"s and DII"s both have turned net buyers , now there's nobody on the sell side.
- India VIX is at its lowest level of past 2 years.
- Next larger move is expected to arrive only if 18500 is taken out on lower side or 18700 is taken out on the higher side.
- Until then , rangebound move is likely to continue.
- Nifty might trade between 18500 to 18700 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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