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China Markets crash 10% (8th Oct 24)




1. U.S Markets closed lower yesterday 
2. Right now Dow futures are flat.
3. Asian markets are mostly lower.
4. U.S VIX is now closer to 22.
5. U.S VIX above 20 is a worrying sign as it indicates heavy Volatility. 
6. Gift Nifty is indicating a flat opening.
7. Yesterday markets closed firmly below 25k.
8. There was some extreme Volatility with which all this happened.
9. Bank Nifty yesterday in just a 5 minute candle went up 1300 points.
10. In next 30 minutes it again went down 1500 points.
11. This is the highest form of Volatility and this wasn't seen in last 1 year.
12. There have been many reasons floating around that FII's have been selling India and investing in China.
13. Chinese markets have given a breakout after 15 long years.
14. Valuation is quite low there.
15. So smart money flow is shifting to China.
16. This trade seems to be done now as Hang Seng and Chinese markets have been down by more than 8% each.
17. Crude oil slips below 80$ / barrel which is a relief as it went above 80$/ barrel yesterday. 
18. Today the election results might attract Volatility in the first half and then later on markets are expected to settle.
19. 24700 is a strong support now for Nifty and if this is taken out we should prepare for 24k.
20. Nifty might trade between 24600 to 25000 today.

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