1. U.S Markets closed flat on the previous trading day.
2. Right now , U.S Futures are trading mixed.
3. SGX Nifty is indicating a gap up opening of 30-40 Points.
4. Asian Markets are mostly mixed.
5. This has been a marvelous turnaround in markets.
6. Nifty from the swing lows of 16800 has rallied almost 600+ Points.
7. Last trading session, everyone expected RBI to raise rates.
8. To the contrary , RBI took a pause from hiking rates
9. This suggested a dowish signal to the markets.
10. People are happy by RBI not raising rates but the U.S Job numbers show different story.
11. U.S reported phenomenal job data numbers.
12. This would again lead to rate hike by the FED.
13. This is the general expectation floating around in wall street.
14. When FED raises rates and there's a situation where we would also hate to raise rates.
15. RBI would have to go for emergency rate hikes.
16. This has happened in the past and this remains a fear.
17. As of now , the Markets are in a rising uptrend.
18. Markets have closed at the highest point of the day for almost last 5 trading sessions now.
19. Next resistance is only at 17800.
20. If you are already long , 17400 is a reasonable stoploss with a target of 17800.
21. Nifty might trade between 17450 to 17750 today.