24350 to be breached today? (3rd Dec 24)

1. U.S Markets closed slightly higher Yesterday.

2. Asian markets are mixed right now.

3. Right now , Dow futures are mixed.

4. U.S VIX is now close to 13.

5. This indicates low Volatility & Stability in the markets.

6. Yesterday was quite a volatile trading day

7. As soon as Markets opened, Nifty started to fall.

8. It kept falling and hit 24k.

9. Then the short covering happened and it led to 24150.

10. Nifty was ranging between 24100 to 24150 until 2 pm.

11. There was a sudden spike at 2pm.

12. Nifty was up 200 points in last 1 hour.

13. This market is still Volatile & 5 minute candles are giving you a move of 30-40 points easily.

14. Although thus is within a range but the Volatility is still high

15. The most important level for today is 24350.

16. Nifty has tried 4 times in the past to cross 24350 but it couldn't.

17. It could be the 5th attempt this time.

18. Once 24350 is breached , we would be racing towards 24500.

19. If 24350 isn't breached then we would again fall towards 24k.

20. On the stocks front , it has turned into a very stock specific market.

21.Nifty might trade between 24100 to 24400 today.

22. stockmarketadvisory.in

Comments

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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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