- U.S Markets closed lower Yesterday.
- Asian markets are mostly lower.
- Dow futures are slightly higher right now.
- SGX Nifty is down 30-40 Points.
- Yesterday we had a sort of short covering rally in our Markets.
- Markets found support near 18200 and recovered sharp.
- Now the range for nifty is 18200 to 18500.
- Nifty might consolidate in this range for a while.
- November expiry was at 18500 for nifty.
- December month we first moved towards 18900.
- Then fell back to 18350.
- Moved towards 18700 again
- Fell all the way to 18200.
- Now again close to 18500.
- On a close to close basis , Markets having gone anywhere.
- Expect December expiry somewhere close to November expiry.
- It should be plus or minus a percent from 18500.
- Bank Nifty on the other hand has been scaling fresh heights.
- Nifty is finding momentum because of Bank Nifty.
- Nifty might trade between 18300 to 1855p 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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