Have we bottomed out?? (21st Oct 24)

1. U.S Markets closed higher on Friday.

2. U.S Companies have been declaring very good results.

3. Asian markets are higher.

4. U.S VIX is now below 18.

5. Gift Nifty is indicating a gap up of 80 points.

6. This is a good gap up opening.

7. Bank Nifty saved the day on Friday.

8. It was a roller coaster ride.

9. Nifty opened with a large gap down below 24700.

10. After Opening below 24700, it kept crashing down.

11. Finally the support was found near 24550 on Nifty & 51k on Bank Nifty.

12. Fridays low according to me should be the low for October expiry.

13. This is my Gut.

14. Banks have declared good results over the weekend.

15. They were nor too bad nor too good.

16. Bank Nifty was already quite lower expecting bad corporate results.

17. I expect Nifty to trade between 24550 to 25250 for this week.

18. Expect Bank Nifty to trade with good strength going forward.

19. Nifty might trade between 24700 to 25000 today.

20. stockmarketadvisory.in

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1. U.S Markets closed lower on Friday. 2. All the indices closed lower. 3. Right now , Dow Futures are lower. 4. Asian Markets are all lower. 5. All the Global Markets are Negative today. 6. From Thursday to Monday Morning , U.S Markets have crashed more than 6%. 7. This is a terrible & an Alarming fall. 8. U.S VIX jumped another more than 20% on Friday. 9. This is the fearful data point. 10. Reason for all this is because of Geopolitical conflicts. 11. Iran - Israel tensions. 12. Japan currency depreciation etc. 13. All this is leading to a flash crash in the Markets. 14. 24500-24400 is a crutial support for nifty. 15. We are likely to open closer to these levels as per Gift Nifty. 16. First hour is the key today. 17. If we do not break the first hour low throughout the day then we might expect a reversal. 18. A further correction may be expected if the first hour low gets taken out. 19. Nifty might trade between 24300 to 24700 today. 20. stockmarketadvisory.in

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