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Will we close above 23500 today? (19th Nov 24)



1. U.S Markets closed higher yesterday. 
2. Asian markets are higher right now.
3. Right now , Dow futures are higher.
4. U.S VIX crashed 4% Yesterday. 
5. Gift Nifty is indicating a gap up of 40-50 points.
6. The next big trigger for our Markets is the State Elections. 
7. It has the capability to move the markets by 2-3%
8. Markets have been stable for last 2-3 trading sessions.
9. Largecap stocks also look like they are stabilizing right now.
10. Reliance seems to have made a short term bottom near 1250.
11. I have sold 1200 PE of Reliance for November expiry.
12. Will do adjustments only if it closes below 1250.
13. Otherwise will let the profits run.
14. Yesterday's low of 23350 around is now a good support to work with.
15. Tomorrow is a local holiday due to voting.
16. As Markets are oversold , traders wouldn't like to carry their shorts before a big event.
17. Expect some short covering rally in the 2nd half today.
18. This is a sell on rally Market currently. 
19. Yesterday the banking stocks ADR were up so expect Bank Nifty to outperform today.
20. Nifty might trade between 23300 to 23700 today.

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