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Period of high interest rates coming to an end? (16th Nov 2023)



1. U.S Markets closed higher yesterday. 
2. All Indices closed higher.
3. Right now , U.S Futures are lower.
4. Gift Nifty is indicating a 30-40 point uptick 
5. Asian markets are higher.
6. U.S Vix is now below 14.
7. Many shorters and Call sellers got heavily trapped yesterday. 
8. There was a big gap up yesterday and it sustained throughout the day.
9. This is the current nature of the market.
10. Markets are opening with big gap ups and gap downs and then not going anywhere.
11. To be able to make money and not get trapped one needs to track Macro factors.
12. Tracking Global markets and expecting a move is how you could benefit in the current scenario.
13. Bank Nifty and Nifty both have closed above their important support levels of 19500 & 43800.
14. Bank Nifty was the underperformer yesterday when compared to Nifty.
15. This is because IT Stocks which were underperforming since long are starting to catch up.
16. IT Stocks look attractive at current valuations.
17. For todays expiry 19600 is the support and 19700 is the resistance. 
18. Once we cross 19700 , we would be heading towards 19800.
19. U.S Markets are just 2% away from their 52 week highs.
20. All throughout the year they have been trading within 15% band.
21. Close to 52 week highs they correct and close to 52 week low they rally.
22. I expect U.S Markets to touch new highs when interest rates start to dip.
23. Nifty might trade between 19600 to 19800 today.

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