1. U.S Markets crashed on Friday.
2. Right now , U.S Futures are flat.
3. SGX Nifty is down 50-70 Points.
4. As per SGX , it's likely to be a gap down opening today.
5. Usually in Bear markets , gap up gets sold into aggressively.
6. Also this is a minor gap down.
7. So there must be some recovery after follow on selling.
8. 2 important levels to watch out for today specially on Nifty.
9. 17350 and 17600
10. 17350 is the budget day low.
11. It's very important that if momentum has to kick in this level gets held.
12. It's this gets taken out we would head towards 17k.
13. 17600 is a resistance zone.
14. So risk reward favours shorting here.
15. Markets have become very weak now.
16. There's absolutely no strength at all.
17. We are down for 8 consecutive trading sessions.
18. FII's have become highly bearish now.
19. I'm bearish now for short term.
20. Nifty might trade between 17350 to 17600 today.
21. stockmarketadvisory.in
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