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More Pain Ahead? (23rd Oct 24)



1. U.S Markets closed mixed yesterday 
2. Asian markets are higher.
3. U.S VIX is now below 18.
4. Gift Nifty is indicating a gap up of 10 points.
5. Yesterday was the worst fall for the markets.
6. Specially for the broader markets.
7. Mid cap and small cap index have fallen 5% each in last 2 trading sessions.
8. When was the last time this has happened.
9. In the past , whenever this has happened there was a V shape recovery.
10. Immediately from the next trading session.
11. This time I do not see that happening.
12. There might be recovery but it would be slow and gradual
13. There won't be a one way rally.
14. Markets just in the Month of October are down 8%.
15. Nifty is down 8% from peak.
16. This shows that we are in a short term Bear market.
17. 2700 stocks out of 5000 are down more than 25% from peak.
18. Bank Nifty is much more stronger than Nifty currently. 
19. If Bank Nifty holds on to 51k it can stabilize Nifty today.
20. Nifty might trade between 24350 to 24700 today.

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