- U.S Markets closed mixed yesterday.
- Asian markets were mixed yesterday.
- Right now , dow futures are lower.
- Asian markets are also lower right now.
- SGX Nifty is down 40-50 Points.
- Yesterday the star of the show was IT index.
- IT index was higher more than 2% yesterday.
- Now the money is shifting from Banking stocks to IT stocks.
- All this while it was exactly the opposite.
- I sense that markets have run up too fast too quick.
- A minor correction / profit booking would be healthy
- Markets moving in a straight line is always unhealthy.
- As and when the correction comes it could be destructive.
- Minor profit booking helps the market texture going forward.
- India VIX is significantly below 14 now.
- Yesterday there was a bit higher Volatility than normal days.
- Markets top out or bottom out with Volatility.
- 18900 should be difficult to cross in the short term.
- Nifty might trade between 18700 to 18900 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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