Markets stabilizing (15th May 2024)

1. U.S Markets closed higher Yesterday.

2. U.S Markets are now at all time highs.

3. All Indices closed higher.

4. Gift Nifty is indicating a gap up of 60 Points.

5. Yesterday our VIX stabilized a bit.

6. This is a positive thing.

7. High VIX markets are quite difficult to trade.

8. I sense that Markets have now bottomed out at 21800.

9. This doesn't mean we will keep moving higher.

10. Bottoming out means I don't see nifty going below 21800 unless something new comes up.

11. Yesterday we had a strong rally.

12. Advance decline breadth of the markets was quite good yesterday.

13. This indicates further strength in the markets.

14. Yesterday the Bank Nifty was weak.

15. Expect the Bank Nifty to outperform now.

16. Nifty and Bank Nifty are now headed for 21500 & 48500 in short term.

17. We will get in more short covering as Markets keeps higher.

18 . Still there are many shorts in the system currently.

19. Nifty might trade between 22100 to 22450 today.

20. stockmarketadvisory.in

Comments

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