1. U.S Markets closed slightly lower Yesterday.
2. All Indices closed in Red.
3. Nasdaq is the biggest underperformer in last 2 Trading sessions.
4. Right now , Dow Futures are lower.
5. Gift Nifty is down 20-30 Points.
6. Asian markets are mostly lower as well.
7. Last 2 days there has been a significant correction in our markets.
8. Reason is the drop in the U.S Credit rating by FITCH.
9. U.S Credit rating was dropped in Year 2011 as well.
10. That time markets crashed by more than 10%.
11. This has caused a sudden panic and sell off among all the markets.
12. Last 2 days, Nifty is down by more than 400 points.
13. Bank Nifty is down around 1000 points.
14. India VIX has risen significantly.
15. Markets are now bearish as they have closed below the support of 19500.
16. There seems more downward move to come looking at the current price action.
17. Also the Volatility is very high so the traders have to be mindful of the same.
18. Supports are breaking very easily In the last 2 days and this is what happens in a downward trending market.
19. View is bearish unless we close above 19500.
20. Nifty might trade between 19200 to 19500 today.