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Monthly Expiry Setup (28th Nov 24)




1. U.S Markets closed slightly lower yesterday. 
2. Asian markets are higher right now.
3. Right now , Dow futures are higher.
4. U.S VIX is now close to 14.
5. Last 2 trading sessions , Put option premiums of even December series have come down sharply.
6. People are expecting 23200 as a bottom now.
7. Good thing about this Market is its going up slowly after a 1000 point rally.
8. Also testing the patience of many.
9. Markets are in a rising trend but the momentum is slow.
10. Bank Nifty is much strong and the reason is HDFC Bank.
11. HDFC Bank that was facing stiff resistance at 1800 levels since last 2 years has finally closed above 1800.
12. It has given a smooth breakout.
13. Hdfc & ICICI Bank both look strong so Bank Nifty is likely to lead the rally.
14. FII's have stopped selling.
15. They haven't began buying aggressively yet
16. FII's are momentum traders.
17. Once they start selling they keep selling for many days.
18. Similar is with buying.
19. When they turn aggressive buyers , wait for a 1000 point rally in just 2 weeks.
20. 24350 is a crutial level for today.
21. If this is crossed we could go near 24500.
22. Yesterday we tested 24350 and witnessed some profit booking from there.
23. Nifty might trade between 24150 to 24450 today.

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