1. U.S Markets closed lower yesterday.
2. Right now Dow Futures are slightly higher.
3. SGX Nifty is down 70-80 Points.
4. Asian Markets are mostly lower.
5. First Republic Bank issue sent shock waves in U.S Market.
6. At one point of time , Dow Jones was down 600 points.
7. Towards the end of the day , there was some recovery.
8. This Banking crisis is heating up the issue in the Global Markets.
9. India VIX shot up 10% yesterday without any reason.
10. U.S VIX surged 20% yesterday.
11. Yesterday we closed above 18100 which is a Bullish Sign.
12. I expect Markets to consolidate between 18000 to 18200 for a while
13. Markets have raced higher in a short span of time.
14. There has been a non - stop continuous rally since a week.
15. Consolidation would help markets to gather steam
16. 18k Put has the highest OI in weekly options so it's likely to act as a major support
17. Meanwhile we may face resistance around 18200 levels.
18. Markers underlying tone is Bullish and we have to see this is just a pause of a trend reversal.
19. I expect this to be a pause and not a trend reversal move.
20. Bank Nifty has major support around 43k levels.
21. Nifty might trade between 18000 to 18200 today.