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Consolidation Continues !! (16th Oct 24)



1. U.S Markets closed lower Yesterday. 
2. Right now Dow futures are higher.
3. U.S Markets witnessed a good profit booking Yesterday. 
4. Asian Markets are higher. 
5. U.S VIX was up 4% Yesterday and now near 20.
6. Gift Nifty indicates a 50 point gap down opening.
7. Today Nifty might open near 25000.
8. Tye major action today would be for Bank Nifty.
9. Today is the weekly expiry for Bank Nifty. 
10. 52000 is a stiff resistance for Bank Nifty.
11. Expecting Bank Nifty to be volatile today.
12. As Bank Nifty is under pressure , it's impacting Nifty too.
13. Major disappointment in October series is of Reliance.
14. Reliance is down 10% from its peak.
15. Yesterday it even broke 2700.
16. Reliance is leading the way downwards for Nifty.
17. Corporate results from largecap stocks have been quite sub par
18. There haven't been any standouts yet. 
19. Mid & Small cap stocks selectively have been doing very well.
20. Nifty might trade between 24900 to 25200 today.

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