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Consolidation? (27th Aug 24)



1. U.S Markets closed lower Yesterday.
2. All the indices closed lower.
3. Dow futures are flat right now.
4. Asian markets are mixed.
5. Gift Nifty is down 20-30 Points.
6. So Yesterday was a very good closing for the Bulls.
7. Nifty closed above 25k.
8. This is the second highest closing for nifty upto now.
9. First highest closing would be if Nifty closes above 25100.
10. This is a proper Bull Market. 
11. Sector rotation has been happening in these markets.
12. Some day a set of stocks go up , other days some other set of stocks go higher.
13. Proper churning & sector rotation has been happening here.
14. Expect the same to continue for a while now.
15. There is more Steam left in the markets.
16. There are no signs of reversal yet.
17. Yesterday I gave a hint for a closing above 25k and markets behaved exactly the same.
18. I expect markets to go higher before rate cut & on the day of rate cut markets might top out.
19. This is classic buy on rumour , sell on news situation.
20. Nifty might trade between 24850 to 25150 today.

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