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Correction?? (3rd Jan 2024)



1. U.S Markets were lower Yesterday. 
2. Right now , Dow Futures are flat.
3. Asian markets are mixed.
4. Gift Nifty is indicating a gap down of 60-70 Points.
5. U.S VIX was up 6% Yesterday 
6. India VIX is close to 15 now.
7. 15 VIX is generally termed as high Volatility zone.
8. The Volatility since the beginning of January Is also on a rise.
9. Nifty is making 100 point move in a span of 10 minutes.
10. Bank Nifty is even worse.
11. Also since the beginning of January there has been a correction. 
12. Nifty is down from its all time high of 21850.
13. Markets have rose up a lot in the Month of December.
14. A correction before a big event like Budget is always healthy for the markets.
15. The Volatility at which it is happening is what worries me.
16. Yesterday's low of 21580 is the immediate support.
17. If this goes out then we may head even lower.
18. Generally on Wednesdays there is an increase in Volatility and first half market remains in pressure and there's a recovery later on.
19. Will be interested to see the price action after a gap down opening.
20. Nifty might trade between 21500 to 21800 today.

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