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Big gap down opening !! (3rd October 24)



1. U.S Markets closed higher yesterday. 
2. Right now Dow futures are flat.
3. Asian markets are mostly lower today.
4. U.S VIX jumped higher and now close to 19.
5. Gift Nifty is indicating a gap down of 250 points.
6. This is a very big gap down considering expiry today.
7. This gap down is majorly due to the 2 reasons.
8. Firstly the new F&O measures bought in by SEBI.
9. Although the impact of these measures will not be big still there is a negative sentiment created.
10. Secondly the tensions in the middle east had been escalated over the last 2 days .
11. Iran - Israel war had intensified which led to oil prices shooting higher.
12. This is negative for our Markets.
13. Now the oil prices have cooled off & war has been ended.
14. The momentum in the markets has also been punctured.
15. Previously after a day fall markets would bounce back sharply.
16. Now markets are taking its own time for the next leg on move.
17. This indicates that people are not in a hurry to buy now.
18. They are waiting for dips to invest their money that being in a hurry and investing it.
19. Fund Managers have also been sitting on cash and waiting for more lower levels to add on to positions.
20. FII's have also turned net sellers in this market currently.
21. 25400-25500 is a strong support zone for nifty.
22. Expect Nifty to take support near these levels today.
23. Nifty might trade between 25500 to 25800 today.

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