Markets fell drastically on Thursday due to weak global clues and heavy selling pressure on all sectors except IT.
Where as Nifty fell 151.80 points , Sensex dropped 485.82 points and Bank Nifty was down by 497.20 points.
India VIX shot up 11% in single day which is an clear indication that market is going to be bearish in coming days.
After long time DIIs turned to negative by tanking 989.18 points and FIIs sold 554.92 crores.
Yesterday we have lot of reasons to fall ,one is investors disappointing on cabinet reshuffle and another major reason is global markets blood bath .
Japan announced some lockdown restrictions before Olympic games due to Covid 3rd wave which is Delta variant and even in European country cases are increasing severely so that is the main reason for all markets to be in red.
we already knew markets wont react to the same news twice or thrice but for sure markets wont go up when there is negative news running so for us it will be sell on rise market in coming days but expect only 10 to 15% fall in the markets not more than that.
Yesterday TCS came with less expectation results so there is no points for Nifty to get support from any sector now and in fact Nifty will fall more in coming days instead of Bank Nifty.
Coming to Global markets :- last night U.S and U.K markets closed in red and Currently Dow Jones , Nasdaq and U.K markets are trading at lower.
All Asian markets are trading in red.
SGX Nifty is down by 48 points as of now.
Coming to India :- Today our markets may open with gap-down based on SGX Nifty and global markets clues.
Looks like market is going to continue the bearish and consider the way FIIs , DIIs are selling , its an clear indication that markets are in severe selling mode so any rise will be sell off today.
If markets open with gap-up then expect one round of sell -off in the opening minute itself and if it is huge gap-down then markets may fall little and then correct and again it will fall or else consolidate and breakout to downside and if it is little bit gap-down then markets continue the fall and after 10 A.M it will react based on weightage stocks performance and
One more point we should remember if U.K markets open with gap-down in the afternoon then expect another round for sellers.
Overall view is bearish so Today buying CE is not a make sense.
The one who is looking for support and resistances based on OI data with chart analysis :- Nifty 15,800 will be the resistance and breaking 15,653 towards downside will be an opportunity to sell.
Bank Nifty 35,500 to 35,715 will be a zone for upside and for downside 35,000 will be the support if it breaks then fall will be drastic.
All the Best , Trade With Discipline.