1. U.S Markets closed mixed yesterday.
2. Right now , U.S Futures are mixed.
3. Dow futures are trading higher.
4. Whereas Nasdaq & S&P 500 have been trading lower.
5. SGX Nifty is down 50-60 Points.
6. So we are likely to have a negative opening today.
7. Today we also have the weekly expiry
8. Gap down is not so huge so it's not a worry for expiry traders.
9. Yesterday markets shot up & kept trading higher.
10. It could be termed as a relief rally now.
11. Trends don't change so easily.
12. They take time to change.
13. We have been in a bearish trend since Adani Saga has played out.
14. If we cross resistance level of 17600 then I would conclude that Markets have stabilized.
15. Until then this is going to continue like a sell on rally Market.
16. Banks are looking quite strong compared to other stocks.
17. Bank Nifty has been outperforming nifty from quite some time now.
18 .17300 to 17500 is the range for nifty today.
19. There would be a bigger move only if one of these levels get taken out.
20. Until then the markets would continue to move sideways in a range.
21. Nifty might trade between 17250 to 17550 today.