- U.S Markets closed lower on Friday.
- Asian markets are mostly lower.
- Dow futures are slightly lower right now.
- SGX Nifty is down 70 points.
- Friday we had a massive sell off in the markets.
- Advance Decline ratio was also very bearish.
- Number of stocks falling were almost 4X for number of stocks rising.
- This isn't a good sign at all.
- As i mentioned before that Nifty is likely to test its 20 DMA.
- 20 DMA is around 18400 for nifty.
- On Friday, this level got tested and then nifty recovered swiftly.
- There was a swift short covering rally during the end of the day.
- Expecting 18400 to be a good support for now.
- If this breaks then 18200 opens up.
- This week is likely to be highly Volatile as well.
- We have many data points coming up.
- Today we have India CPI data.
- Tomorrow U.S CPI Inflation data.
- Wednesday we have fed meet.
- So all these events will make markets volatile
- Nifty might trade between 18380 to 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
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