Tomorrow is weekly expiry of the banknifty FNO. This is usually a reasonable dramatic event but even more so tomorrow.
Today, the news of Chinese retaliation to Trump trade sanctions threw the markets off. BUT, it happened in the Asian and European hours. As I expected, the US markets are much more sanguine about that. This has got to reflect tomorrow in the Asian hours and for the Indian markets even more so.
As I expected, the US markets opened gapped down but are quickly recovering the ground. Let's face it, what's happening is not exactly out of the blue and is not shocking anybody.
Long term repercussions are a different deal bit for tomorrow for Indian traders, make a killing on banks. This should reflect on Nifty too but I suspect Banks will give more bang for the buck.