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Showing posts from February, 2024

Meltdown !! (29th Feb 2024)

1. U.S Markets closed lower yesterday. 2. Right now , Dow Futures are slightly lower. 3. Asian markets are down. 4. Gift Nifty is indicating a gap up opening of 30 points. 5. Yesterday there was a sudden sell off in the markets. 6. It was sudden & sharp at the same time. 7. Nifty opened around 22200 and then the sell off began. 8. Midcap and smallcap Index fell 2% each. 9. Advance - Decline ratio was the worst. 10. In front of 2 advances there were 8 declines yesterday.  11. Today we have the monthly expiry and past says that monthly expiries are always highly Volatile. 12. Important support level is now at 21850 for today  13. I sense that we could test this support level today. 14. Resistance level for today is at 22050. 15. Bank Nifty is also at crutial support of 46k. 16.  Don't expect much selling from here but if we hold the supports then we might see a big short covering. 17. All in all it's going to be highly Volatile & tricky day. 18. Do not s...

Consolidation!! (28th Feb 2024)

1. U.S Markets closed lower yesterday. 2. Right now , Dow Futures are slightly lower. 3. Asian markets are down. 4. Gift Nifty is indicating a gap down opening. 5. Gap down is not much its just 20 points. 6. Markets have been behaving quite boring this expiry.  7. There is absolutely nothing going on. 8. Nifty is trading within 100 point range. 9. It's unable to close above 22200 or below 22100. 10. Although yesterday,  it tried to close higher but we were short of time. 11. Westlife Food world which is McDonald's based company. 12. They have been under the radar of providing vegetable cheese instead of real cheese. 13. This isn't the first instance with mcdonalds 14. They have made such mistakes quite a number of times in the past. 15. As we closed at higher end of range yesterday. 16. We might actually see some more rally. 17. Once sustained above 22200 we could witness 22300 & 22400 on this expiry itself. 18. Bank Nifty had been underperforming nifty 19. ...

Consolidation!! (27th Feb 2024)

1. U.S Markets closed slightly lower Yesterday.  2. Gift Nifty is indicating a small gap up opening. 3. Right now , U.S futures are lower. 4. Nasdaq closed at another fresh record high Yesterday.  5. Asian markets are slightly lower. 6. Markets in the Month of February have been behaving quite unusual. 7. There has been extreme Volatility and then extreme ranging Markets. 8. It's a mix of both of these stuffs. 9. Market to me currently looks like a tired bull. 10. A bull which has ran up so much that it's tired now and needs some rest. 11. This is specially the case for mid & Small cap stocks that have run up a lot. 12. Markets waiting for next big news to decide the direction. 13. 22000 is now a very crutial support for this expiry. 14. I don't think this would break until there is some very bad news. 15. 22300 & 22400 are the resistance zones. 16. Expecting markets to consolidate for a while now. 17. Between 22200 to 22300 expect the markets to be bori...

Life at Life time high (26th Feb 2024)

1. U.S Markets closed slightly higher Yesterday.  2. Gift Nifty is indicating a flat opening. 3. Right now , U.S futures are lower. 4. Nasdaq closed at another fresh record high on Friday. 5. Asian markets are slightly lower. 6. Markets in the Month of February have been behaving quite unusual. 7. There has been extreme Volatility and then extreme ranging Markets. 8. It's a mix of both of these stuffs. 9. Reliance is close to 3k. 10. 3000 is a psychological resistance for Reliance. 11. Once Reliance crosses the levels of 3000 it would touch 3100 like a bullet. 12. There is huge Call writing at 3000 levels for Reliance.  13. 22000 is now a very crutial support for this expiry. 14. I don't think this would break until there is some very bad news. 15. 22300 & 22400 are the resistance zones. 16. Expecting markets to consolidate for a while now. 17. Between 22200 to 22300 expect the markets to be boring & rangebound.  18. Bank Nifty is expected to underperf...

Nasdaq hits record high !! (23rd Feb 2024)

1. U.S Markets closed higher yesterday. 2. Gift Nifty is indicating a gap up opening of around 40-50 Points. 3. Right now , U.S futures are mixed. 4. Nasdaq closed at fresh record high yesterday.  5. S&P 500 hit a fresh all time high. 6. Asian markets are higher. 7. Yesterday was the most volatile of expiry. 8. Markets crashed during the first half & recovered during the 2nd. 9. The short covering & recovery was so big that we almost closed at all time high. 10. Banks were the underperformers yesterday.  11. Bank Nifty was negative throughout the day. 12. These markets are as volatile as it can be. 13. Bank Nifty making a 600 point move on daily basis. 14. Nifty making big moves on daily basis. 15. This is a proper sideways which is trapping trending traders. 16. Once stuck at the wrong end of the trading range , you are gone. 17. Need to enter & exit trades immensely quick. 18. Expecting Nifty and Bank Nifty to have positive bias and momentum to slow down from...