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Consolidation !! (11th Dec 2023)


1. U.S Markets closed mixed on Friday.
2. Right now , Dow Futures are mixed.
3. Asian markets are mixed.
4. Gift Nifty is indicating a gap down of 20-30 Points.
5. U.S VIX went slightly lower on Friday.
6. Yesterday was a consolidation day as we had expected.
7. Markets after rallying need some time to breathe.
8. This consolidation is good for the long term prospects of our Markets
9. If there is a vertical rally then as and when there is a fall , it would be vertical as well.
10. Friday there was RBI meeting and the decision was status Quo.
11. There were no change in the rates as expected.
12. Markets went into profit booking after the meeting.
13. Bank Nifty has started to outperform than Nifty.
14. Financial stocks have been trading at low valuations compared to historical valuations.
15. Value buying is emerging in that space.
16. Markets once crossed 21k would head towards 21.5k.
17. Support is at 20800.
18. Fridays low of 20850 is a good support to work with 
19. This is a buy on dips market and the same is to continued.
20. Nifty might trade between 20850 to 21150 today.

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