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Slow Trending Markets !! (2nd Sep 24)



1. U.S Markets closed higher on Friday.
2. Nasdaq & S&P 500 closed below record highs whereas Dow closed at fresh highs.
3. Dow futures are flat right now.
4. Today we gave a U.S holiday.
5. Labor holiday in U.S Markets.
6. Gift Nifty is hovering close to 25400.
7. The underlying tone of the market is quite Bullish currently.
8. Any dip is being bought into.
9. IT , FMCG & Pharma are the outperforming sectors.
10. Bank Nifty has not still joined the rally.
11. Since the day of the Budget , Bank Nifty is underperforming. 
12. Nifty is at record highs whereas Bank Nifty is still 3-4% lower from fresh all time high.
13. SBI also reported that they are facing a low deposit issue.
14. Bank deposits have now reduced and people are shifting money into Stock Market instruments. 
15. This is a major shift in the mindset.
16. This is the reason for underperformance of Bank Nifty
17. 25k is a very important support now on Nifty.
18. As long as this holds , the view is positive & it's a buy on Dip market.
19. If this breaks decisively , then there might be more downside.
20. Nifty might trade between 25150 to 25450 today.

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