1. U.S Markets closed higher yesterday
2. All the indices closed higher.
3. Right now , Dow Futures are higher.
4. Asian markets are higher.
5. Gift Nifty is indicating a gap up of 80-90 points.
6. Nasdaq for the first instance after a long time outperformed Dow Jones.
7. Nasdaq closed higher by more than 1.5%
8. Whereas , Dow Jones closed marginally higher.
9. Yesterday the expiry was highly Volatile.
10. Nifty opened with a large gap up and that gap up opening was sustained.
11. During the day the gap up had a follow through and at one point Nifty and Bank Nifty were higher by more than a percent.
12. Midcaps and small caps which were buzzing during the opening hour closed deeply in Red.
13. It was a bloodbath during the 2nd half of the trading session.
14. I expect yesterday's Volatility to be because of expiry related Volatility.
15. On some expirys, the moves get over extended due to huge option writing.
16. Also after the Bank Nifty expiry shift on Wednesday , Thursday was the first trading day.
17. So this might also have caused some adjustments in positions.
18. All in all ,Bull Market is alive and such corrections keep the Bull Market healthy.
19. One way rallies are also quite dangerous in the short term
20. Yesterday Nifty crossed 19500 but couldn't close above this level
21. 19300 to 19500 range still persists on the Nifty.
22. Nifty might trade between 19300 to 19550 today