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Ranging Market !! (5th Jan 2024)


1. U.S Markets closed mixed Yesterday. 
2. Right now , Dow Futures are higher.
3. Asian markets are higher.
4. Nasdaq has been tye underperformer from last 4 trading sessions.
5. In last 4 trading sessions Nasdaq is down by 3-4%.
6. Gift Nifty is indicating a very flat opening.
7. Nifty has taken support from 20500 and recovered Yesterday.
8. So the range for nifty is 21500 to 21800.
9. In the Month of January , Nifty has been trading within this range.
10. One another good thing about Yesterday was the fall in India VIX.
11. India VIX was down another 3% Yesterday and the option premiums have cooled down.
12. During the beginning of the month all the premiums were quite costly.
13. Gradual correction in India VIX has cooled over the premiums.
14. Yesterday the advances were also In favour than the declines.
15. Which indicates that we are in a strong market.
16. Making money in the Month of January won't be as easy as it was in the Month of December.
17. December was a one way trending market.
18. January is a slow & steady ranging market.
19. Nifty might trade between 21500 to 21800 today.

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