- U.S Markets closed lower yesterday.
- U.S Inflation data has come at a multi decade high of 6.2% for October.
- This is the highest number in last 30 years.
- Dow futures and Asian markets are currently higher now.
- SGX Nifty is trading at 17960.
- Nifty is consolidating within a range of 17800 to 18100.
- Within this range it's been trading with high Volatility.
- Markets are waiting for some fresh triggers to give a fresh move.
- FII's have been consistently selling since October End.
- The magnitude has reduced than before but selling has not stopped.
- Yesterday due to Reliance Market was stabilized.
- Reliance seems to have bottomed out near 2500-2480.
- Before results it was near 2750 but witnessed profit booking and came to 2500.
- Reliance is an index heavyweight and a very important component for Nifty.
- Zomato has come with its results yesterday and it worsens every quarter.
- Losses increase to 500 crores in a quarter.
- A loss making start up acquires stake in other profit making start ups to reduce losses.
- I don't understand this start up saga and it's better to stay away as the valuations are through the roof.
- Nifty might Trade between 17880 to 18050 today.
- stockmarketadvisory.in
1. U.S Markets closed lower on Friday. 2. All the indices closed lower. 3. Right now , Dow Futures are lower. 4. Asian Markets are all lower. 5. All the Global Markets are Negative today. 6. From Thursday to Monday Morning , U.S Markets have crashed more than 6%. 7. This is a terrible & an Alarming fall. 8. U.S VIX jumped another more than 20% on Friday. 9. This is the fearful data point. 10. Reason for all this is because of Geopolitical conflicts. 11. Iran - Israel tensions. 12. Japan currency depreciation etc. 13. All this is leading to a flash crash in the Markets. 14. 24500-24400 is a crutial support for nifty. 15. We are likely to open closer to these levels as per Gift Nifty. 16. First hour is the key today. 17. If we do not break the first hour low throughout the day then we might expect a reversal. 18. A further correction may be expected if the first hour low gets taken out. 19. Nifty might trade between 24300 to 24700 today. 20. stockmarketadvisory.in
Comments