US markets opened lower but closed higher.
US-China Trade tension or US-Iran issue, US markets correction is very shallow.
It is is a firm up trend.
Asian markets are positive.
Our market reacted too much for the news.
Nifty fell more than 250 points and Bank Nifty fell more than 800 points.
Now SGX Nifty trading about 80 points higher.
There may be some panic squre offmorning due to huge gap up.
Nifty 80 points gap up and Bank Nifty 200 points gap up is expected.
The main resons for such a big fall: (i) We buy crude mainly from Iran and (ii) Fall was mainly due to absence of buying and shorting rather than long unwinding.
The real action will begin next week when corporate results starts coming in.
But PSU Banks are looking so weak.
Nifty future may trade between 12080 and 12200.