- U.S Markets closed lower Yesterday.
- Right now Dow futures are higher.
- SGX Nifty is down 150 points.
- Asian markets are lower.
- Yesterday there was a Fed event in U.S Markets.
- General expectations were an increase of 75 basis points
- Exactly the same happened and at 11.30 markets recovered sharply from lows
- Then at 12 as Fed governer started speaking , it was a complete Hawkish statement.
- This induced lot of volatility and also selling pressure.
- U.S Markets closed at the low point of the day.
- Dow Jones fell 500 points.
- Although all this happened, U.S VIX didn't shot up
- It stayed flat.
- HDFC Bank ADR was down 2% yesterday.
- This could bring pressure in Bank Nifty.
- However I feel yesterday was an over reaction in U.S Markets.
- Markets should stabilize from today.
- 18000 is a strong support for the day.
- Previously as well many times Nifty went above 18k but couldn't sustain.
- Nifty might Trade between 17900 to 18150 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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