1. U.S Markets closed lower yesterday.
2. All the indices closed in red.
3. Gift Nifty is up 20-40 Points.
4. Asian markets are mostly higher as well.
5. Yesterday , Nifty opened with a gap up and started moving higher.
6. It looked like a stable expiry based on first half price action.
7. As the markets were going higher steadily.
8. But then came the fall
9. Bank Nifty was up 300 points in the first half.
10. In the second half , Bank Nifty started to Crack.
11. Bank Nifty fell 800 points from day high.
12. Nifty crashed 200 points from the day high.
13. All this had happened with heavy Volatility yesterday.
14. In the last 30 minutes there was a huge short covering rally.
15. This short covering rally led Nifty to close near 19700.
16. Weighted average rates of last 30 minutes is taken hence closing was shown near 19660.
17. Yesterday the U.S ViX also jumped 10% intraday.
18. Rate hike fears and jitters still continue.
19. 19600 is a strong support for nifty.
20. Trend is Bullish.
21. Nifty might trade between 19600 to 19900 today.