1. U.S Markets closed higher Yesterday.
2. Right now , Dow Futures are higher.
3. Asian markets are slightly higher.
4. SGX Nifty is indicating a gap up opening of 20-30 Points
5. So markets are likely to open slightly higher today.
6. Yesterday was a very boring kinda day.
7. Yesterday the whole flavor was in Mid & Small caps.
8. The indices were all trading flat.
9. Nifty traded in just 50 point range.
10. Bank Nifty in 150 point range.
11. This is how flattish the markets were trading
12. There has been a news that Kotak Mutual funds have stopped accepting fresh money for Small cap schemes.
13. They feel that the small cap valuations have soared through the roof.
14. When a particular asset class keeps outperforming , excessive money gets pumped into it and this leads to a big bubble.
15. As of now , I don't think mid and small caps have reached that stage yet.
16. Contrary to that , I see many junk mid and small caps going higher and making highs.
17. These are the companies with no solid fundamentals are are just sailing through the momentum.
18. So it's time to be careful in some pockets whereas it's time to catch opportunities in other pockets.
19. Today we have FIN Nifty expiry as well so there would be small Intraday swings in between.
20. Nifty might trade between 18500 to 18800 today.