- U.S Markets closed mixed yesterday.
- Right now Dow futures slightly lower.
- SGX nifty is higher & trading at 15750.
- Yesterday it was majorly a Consolidation in the Global markets.
- Asian markets are slightly lower.
- After such a huge short covering rally consolidation is necessary to keep momentum intact.
- So this looks more of a consolidation and not of a trend reversal
- U.S GDP data is going to be out tomorrow.
- Perhaps market is waiting for the same and hence theres cautiousness.
- Most importantly , U.S VIX fell yesterday.
- In spite of U.S VIX falling , India VIX keeps on going higher.
- Yesterday as well in a Bullish market India VIX was higher.
- In U.S the VIX falls gradually but in India it doesn't fall for few days and then goes down at one go.
- FII's are on a selling spree and now almost every market participant knows the same
- Bank Nifty underperformed Nifty yesterday.
- This is because bank Nifty has outperformed Nifty in the last week
- So now a profit booking was on cards.
- As long as 15700 holds , uptrend is intact.
- Major downside only below 15700 for Nifty.
- Nifty might Trade between 15700 to 16000 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
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