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Global Markets Crack !! (16th August 2023)


1. U.S Markets closed lower Yesterday. 
2. Right now , Dow futures are slightly higher.
3. Asian markets are lower.
4. Gift Nifty is down 80 points.
5. Markets have been going through a volatile phase in August.
6. With no clear trend and gap ups / gap downs almost on daily basis.
7. Bank Nifty is the one facing the heat.
8. Bank of England continue to raise rates , China property market concerns & a better than expected wage numbers all create stir in the market 
9. With better than expected wage data the rate hike fears still dominate the market.
10. U.S VIX climbed 11% Yesterday.
11. Fear has increased due to such incremental news.
12. IT Stocks expected to outperform in such environment where the currency expected to depreciate.
13. Monday was a highly Volatile trading day.
14. Nifty opened with minor gap down and had continued to go lower 
15. It even broke the recent low of 19300 and made a fresh low of 19260.
16. From the lows of 19260 , Nifty recovered 200 points and Bank nifty recovered 500 points from days low 
17. When you just see at the closing basis , Nifty closed flat.
18. Only the Intraday traders know how huge the Intraday Volatility was.
19. 19300 has been retested again and saved as we closed above it 
20. 19260 to 19650 is the larger range for nifty.
21. Markets expected to be Volatile within these levels.
22. Nifty might trade between 19320 to 19520 today.

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