Fresh all time high today?? (19th Feb 2024)

1. U.S Markets closed lower on Friday.

2. All the indices closed lower.

3. Not majorly lower , just some minor sort of profit booking.

4. Gift Nifty is indicating a very flat opening

5. Right now, Dow Futures are majorly flat.

6. We are close to all time highs on Nifty.

7. Bank Nifty is 5% plus away all time highs.

8. We have already reversed 2 times from 22125 which is the Nifty all time high level.

9. We have immediate support at 22k now.

10. Once we cross all time high we can expect huge rally

11. The probability of markets crossing all time high is higher than the possibility of a reversal currently.

12. I had mentioned that from now Nifty will outperform than mid & Small cap index.

13. We might see consolidation for some time over above indices.

14. HDFC bank & Reliance , the 2 heavyweights of Nifty look Bullish.

15. Hdfc bank has made a double bottom at 1370 thereabouts and Reliance has given a large breakout from its 2 year range.

16. When large caps are Bullish it can pull nifty.

17. We too need support of Bank Nifty for ATH to happen.

18. Bank Nifty now has support at 46200 and then at 45800.

19. Do not expect 45800 to get breached so easily.

20. Nifty might trade between 21950 to 22200 today.

21. stockmarketadvisory.in

Comments

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1. U.S Markets closed lower on Friday. 2. All the indices closed lower. 3. Right now , Dow Futures are lower. 4. Asian Markets are all lower. 5. All the Global Markets are Negative today. 6. From Thursday to Monday Morning , U.S Markets have crashed more than 6%. 7. This is a terrible & an Alarming fall. 8. U.S VIX jumped another more than 20% on Friday. 9. This is the fearful data point. 10. Reason for all this is because of Geopolitical conflicts. 11. Iran - Israel tensions. 12. Japan currency depreciation etc. 13. All this is leading to a flash crash in the Markets. 14. 24500-24400 is a crutial support for nifty. 15. We are likely to open closer to these levels as per Gift Nifty. 16. First hour is the key today. 17. If we do not break the first hour low throughout the day then we might expect a reversal. 18. A further correction may be expected if the first hour low gets taken out. 19. Nifty might trade between 24300 to 24700 today. 20. stockmarketadvisory.in

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