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Sideways Market !! (20th Sep 24)



1. U.S Markets closed higher Yesterday. 
2. All the indices closed slightly lower by at least 2%
3. Right now , Dow futures are flat.
4. U.S VIX was down 10% Yesterday. 
5. It was a fantastic & broad based rally in U.S Markets.
6. Asian Markets are mostly higher.
7. Gift Nifty is indicating a 40 point gap up opening.
8. Yesterday was a volatile expiry day.
9. Nifty opened higher , kept rallying and finally reversed from 25600.
10. The profit booking was severe and Nifty made a low of 25400
11. Apart from Bank Nifty , all Indices are under pressure.
12. Mid & Small caps particularly are falling.
13. Nifty highest OI is at 25200 PE & 25500 straddle.
14. 25200 should be a strong support for Nifty this expiry.
15. 25500 straddle combined premium is 300rs
16. 25200 to 25800 is the current range for Nifty.
17. Expect a bit of Volatility and sideways movement.
18. Bank Nifty made a double top of 53350 yesterday which is its all time high.
19. Once all time high is taken out , Bank Nifty can easily rally 1000-2000 points.
20. Nifty might trade between 25350 to 25650 today

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