- U.S Markets closed a Percent higher Yesterday.
- Asian Markets are Mixed with a Positive Bias.
- SGX Nifty is up 40 Points and Trading near 10220.
- U.S Markets are Nasdaq are now Trading near their all time high.
- Yesterday Nifty Witnessed a big Gap up at the open & was Consolidating for the first half but soon the selling resumed.
- It was not severe kind of selling which changes the Trend.
- It was just a minor profit booking.
- The Trend of the Market is still Positive but we may not go higher with the pace as we have done before.
- This will be a calm and collective upward journey and one needs to be very patient to ride it.
- After a huge rally of Nearly 1200 Points in about a week we are just Consolidating, buliding a base for a fresh rally.
- Corrections like Yesterday are important and keep the Market healthy.
- Markets should never go up or come down in a Straight line.
- FII's were net Buyers Yesterday but DII's were net sellers.
- DII's are Witnessing profit booking since a couple of days and FII's not Stopping to pump in money.
- There is a clash between these two so there is Indecisiveness in the Markets.
- Titan came out with good Results Yesterday as it were better than Street Expectations.
- PVR reported a ₹ 77 crore loss for it's first quarter.
- Hero Moto Corp is coming up with it's results today and it is going to be a decider for Auto Stocks.
- The Broader range for the Nifty is 10000 to 10350.
- Nifty is likely to trade within this Range for this Expiry.
- Even if this Range breaks high chances are breaking on the Upside.
- Yesterday selling pressure was Witnessed in the Markets due to selling pressure in Index heavyweights.
- ITC , HDFC Bank & Reliance dragged the Markets lower.
- Once Reliance Crosses it's all high of 1618 it can push the Nifty higher for a Breakout.
- So my View for the Markets remains of "Consolidation" with a Positive Bias.
- Corrections like Yesterday raise questions in Traders mind that has the Trend changed?
- It gets weak shorts into the System and Eventually they are trapped.
- Mentioned Yesterday that Bank Nifty will Outperform and it will continue to Outperform the Nifty.
- IT Stocks are showing good strength and they can be looked for Intraday basis.
- Intraday the Trade is to sell near 10300 with a Stoploss of 10350 and buy near 10100 with a Stoploss of 50 Points and play for Reversal.
- Positional / Short term Traders the trade is to keep buying Call Options on every dip and keep building positions on the Upside with a Stoploss of 10k.
- stockmarketadvisory.in
1. U.S Markets closed lower YESTERDAY. 2. All the indices closed lower. 3. Right now , Dow Futures are higher. 4. Asian Markets are all higher. 5. All the Global Markets are Positive right now. 6. Last 3 days , there has been a flash crash in all the Global Markets. 7. There was a Mayhem specially in the Japanese Markets. 8. Japan had hiked the interest rate after 15 long years due to which their currency depreciated and it caused a 20,% fall in Japanese markets. 9. There are warnings of U.S recession post the Jobs data report. 10. Israel - Iran war has been taken escalation. 11. All these news have spooked the Global Markets. 12. U.S VIX jumped 400% in last 4 trading sessions. 13. India VIX jumped 50% Yesterday. 14. Although it doesn't impact us at all , it's the nature of markets to react on news. 15. Right now , Nikkei the Japanese index has opened positive 16. 24000-23850 is a very strong and final support. 17. I expect yesterday's low...
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