1. U.S Markets closed higher Yesterday.
2. Right now , Dow Futures are slightly lower.
3. Asian markets are slightly higher.
4. SGX Nifty is indicating a gap up opening of 50-60 Points
5. So markets are likely to open higher today.
6. Yesterday was a trending day for the markets.
7. Markets after opening faced a bit of profit booking.
8. After that Initial bout of sell off , there was big recovery and rally next.
9. Markets gradually inched higher and closed at the highest point of the day.
10. Importantly , Nifty and Bank Nifty both closed above their important resistance levels.
11. Nifty closed above 18800.
12. Bank Nifty closed above 44k.
13. Both the indices indicating a breakout during the close.
14. There is a good Possibility that 18900 gets taken out today itself.
15. Once 18900 is crossed on Nifty it would take a jiffy for nifty to hit 19k.
16. There was a news yesterday about hdfc bank & hdfc Ltd merger being effective from 1st July.
17. This is a positive news for both the stocks
18. Bank Nifty has outperformed Nifty Yesterday.
19. Bank Nifty has more steam under it right now.
20. 44500 is crossed on Bank Nifty would lead to a new high of 45k.
21. My view is Bullish now and the low of 18650 on Monday is a short term bottom for me
22. Working with this plan as of now.
23. Nifty might trade between 18700 to 19k today.