- U.S Markets closed lower Yesterday.
- Asian markets are mixed.
- Dow futures are slightly lower right now
- SGX Nifty is down 40-50 points.
- Markets in last 1 week have rallied more than 800 points.
- There was a rally across the Globe markets.
- We participated in that too.
- At the beginning of the month FII's short positions were 80%.
- Now it has come down to 55%.
- They have covered their aggressive short bets.
- Perhaps because of the same there was a huge rally on the upside.
- This raises an important question.
- As FII's have covered most of their aggressive short bets.
- Is the rally of the upside capped in near term?
- Else will the rally keep continuing.
- I sense the Market might consolidate/ trade sideways from here on.
- 16400 to 16800 I sense would be the range of short term consolidation.
- Then we decide what goes on from there.
- Continues rally and steep fall after large rally both aint good In the long run.
- There were many results decalred over the weekend.
- Infy & Reliance results were okay- ish.
- We will also be having Fed event on Wednesday.
- Markets might remain jittery going into the event.
- ICICI Bank was once again quite spectacular results.
- Nifty might Trade between 16540 to 16800 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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