1. U.S Markets closed higher yesterday
2. Right now , Dow Futures are higher.
3. Asian markets are higher
4. Gift Nifty is indicating a gap up of 200+ Points.
5. U.S VIX was slightly higher yesterday.
6. Today is weekly expiry & a gap up 200+ Points is just too huge.
7. There is highest open interest at 21k Weekly CE as on Yesterday.
8. Now all of these Call writers would be trapped at open.
9. Yesterday the FED Indicated that there would be 2 rate cuts in 2024 & also they haven't changed interest rates currently.
10. Markets have loved this commentary.
11. Lowering of interest rates means lower loan costs.
12. Lower loan costs indicates higher liquidity & higher profits for companies.
13. Interest rates were kept high to tackle the Inflation.
14. Now when the Inflation is in check & at Central Banks target they can afford to cut the rates.
15. RBI most often just follows what the FED does.
16. Also most of the Central Banks works in a Unison.
17. It will almost be the same in India as well.
18. Our Markets would be a huge demand market now.
19. Lowering interest rates + Political stability + largest GDP in the World.
20. This is a Golden Era for stock market.
21. Range would now shift to 21k to 21200.
22. Expect markets to find some kind of resistance near 21200.
23. Nifty might trade between 21k to 21200 today.
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