1. U.S Markets closed mixed yesterday.
2. Nasdaq was the laggard yesterday.
3. Nasdaq has underperformed for the second straight day now.
4. Dow Jones & S&P 500 were the outperformers.
5. Right now , U.S Futures are trading higher.
6. Asian markets are mixed.
7. SGX Nifty is indicating a gap up opening of 10-20 Points.
8. Markets are in a sort of consolidation phase.
9. Technology stocks are facing the brunt globally.
10. We are close to important resistance of 17800.
11. Markets look quite strong even now.
12. It's a good time to book profits and wait on the sidelines.
13. Once nifty breaches 17800 one can initiate fresh longs.
14. Banks were the outperformers yesterday.
15. Specially the PSU Bank index was on fire.
16. India VIX is trading near 12.
17. That's the reason the Volatility and also the premiums are too low.
18. Once nifty breaches 17800 the next target is 18k.
19. Yesterday we had advised to initiate long positions with a stoploss of 17400 and a target of 17800.
20. One could trail the stoploss to 17600 now.
21. Nifty might trade between 17600 to 17900 today.