21800 - A Double bottom for Nifty? (22nd Apr 2024)

1. U.S Markets closed mixed on Friday.

2. Nasdaq crashed by 2% on Friday.

3. Asian markets are all mixed.

4. U.S Markets look bearish currently and are not out of the woods yet.

5. We have have successful om Friday by not going below 21800 but have to see how much time it's going to sustain.

6. Results of HDFC Bank ain't that great.

7. It's just flat Results and nothing is out of the box.

8. Reliance results should be out today during market hours.

9. This could cause a big swing on Nifty.

10. I personally feel markets would be in a consolidation phase for next 6 months at index and most of the stocks.

11. 2023-2024 had been a fantastic year and almost all the stocks rallied.

12. Valuations are quite steep now and only if a company is declaring excellent results , the stock prices are rising.

13. Markets would test your patience but will not make big trending moves.

14. 22350 is the resistance for nifty.

15. 21800 is the support.

16. I'm giving a bigger range because the Volatility and moves are quite big.

17. All eyes on Reliance & Bajaj twins results today.

18. Reliance has a history of surprising with its above expected results.

19. Expect markets to cut down the losses and stabilize from now.

20 stockmarketadvisory.in

Comments

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