23800 Make or break (13th Nov 24)

1. U.S Markets closed lower Yesterday.

2. Asian markets are mixed right now.

3. U.S Futures are mixed.

4. The post Election rally has finally settled in U.S

5. U.S VIX is now below 14.

6. After the August first week crash , where Yen depreciated and we fell 1000 points in 2 days , U.S Markets are up 20% from their lows.

7. We are again at the same level as August.

8. This has been a huge underperformance by us.

9. FII selling is the thing everyone talks about but that's just an output.

10. The main reason for all this is falling earnings , high Inflation etc.

11. If markets keeps going up ignoring all these factors , the crash would have been even more severe.

12. Nifty closed below 24k yesterday which is not good.

13. There was a sudden sell off after 1 pm yesterday.

14. It was so severe that Nifty fell 400 points from day high.

15. All the banking stocks were targeted yesterday.

16. 23750-23800 is a strong support zone , it should be held on if we expect stability.

17. A close above 24k would be very good.

18. If 23750 breaks we would free fall towards 23500 which is the 200 DMA for Nifty.

19.Nifty might trade between 23750 to 24100 today.

20. stockmarketadvisory.in

Comments

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