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Lower than Expected U.S Inflation (14th Aug 24)

1. U.S Markets closed higher Yesterday. 
2. All the indices closed higher.
3. Right now , Dow Futures are flat.
4. Asian Markets are mostly higher.
5. Gift Nifty is indicating a gap up opening of 30-40 Points.
6. Yesterday was a highly Volatile day for the market
7. We opened almost flat.
8. There was a consolidation in the first half.
9. In the 2nd half there was huge profit booking.
10. Nifty closed at the lowest point of the day.
11. The major reason of this fall is due to HDFC Bank.
12. HDFC Bank fell 3% Yesterday because of MSCI rebalancing issue.
13. Hdfc bank alone contributed 400 point fall in Bank Nifty and 100 point fall in Nifty.
14. Hdfc bank & Bank nifty both are near crutial support levels currently.
15. 49600-49500 is the final support zone for Bank Nifty. 
16. Nifty range is 24000 to 24500.
17. Nifty is trading with high Volatility in this range.
18. U.S VIX crashed 12% Yesterday and closed below 19 which is a good sign.
19. There was huge Call writing yesterday so if market stages a reversal it could be big.
20. Nifty might trade between 24100 to 24500 today.

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