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Consolidation with Bullish Sentiment (14th June 2024)


1. U.S Markets closed mixed yesterday. 
2. Nasdaq continues to outperform other indices.
3. Indian IT Stocks are still lagging behind.
4. Asian Markets are mixed.
5. Gift Nifty is indicating a flat opening.
6. Inflation in U.S as well as India has eased.
7. Inflation numbers reported in U.S were well below estimates.
8. India also the similar situation arose.
9. Central Banks commentary is a bit dowish.
10. This in turn , is in favour of the markets.
11. Both Nifty and Bank Nifty are in a Bullish zone.
12. The momentum has cooled off a bit.
13. This is because Volatility has dropped.
14. Markets are now trading within a low intraday range.
15. Expect the same to continue until Budget.
16. Post June expiry , all eyes would shift to the Union Bidget.
17. Even though any major changes ain't expected.
18. Large institutions would get an idea how this Govt would work in future.
19. 23500 is the next resistance for Nifty.
20. Nifty might trade between 23200 to 23500 today.

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