Bank Nifty to join the Party? (22nd Aug 24)

1. U.S Markets closed higher yesterday.

2. All the indices closed higher.

3. Dow futures are trading slightly lower right now.

4. U.S VIX was flat yesterday

5. Yesterday was a positive day for our Markets.

6. Nifty was trading in green throughout the day.

7. There were some dips intraday on Nifty but they were immediately bought into.

8. This shows the strength of the markets.

9. Bank Nifty however was mostly lower throughout the day.

10. It may be due to expiry related issues etc.

11. Post 2.30 pm , there was a huge short covering in Bank Nifty.

12. Bank Nifty rallied almost 400 points and closed flat

13. U.S Markets are just a percent away from ATH (All time highs)

14. Indian Markets are almost the same

15. We might consolidate for a while before crossing 25k.

16. Unless some Macro tension pops up , I believe we will cross ATH this time.

17. 23900 is a bottom now for Nifty and it's a buy on Dip market.

18. Bank Nifty traded in the range which I had said yesterday.

19. Nifty might trade between 24650 to 24900 today.

20. stockmarketadvisory.in

Comments

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Global Markets Mayhem !! (5th Aug 24)

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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