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 50 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 maximum heat.
8. Yesterday the IT index saved nifty.
9. The closing looks respectable on Nifty only due to IT index.
10. Yesterday I had given a hint for IT Stocks outperformance.
11. For the last 2 trading sessions , Nifty has been falling in first hour and then closing at the highest point of the day
12. We are in a sideways market but it's coming with huge Volatility.
13. Nifty and Bank Nifty both are in a sideways zone and both are highly Volatile.
14. Today we have weekly expiry and its expected to be rangebound as well.
15. 19350 to 19550 is the expected range for today's expiry.
16. If due to short covering 19500 gets crossed then we have room for nifty to even go higher.
17. Most likely it's expected to be an inside day on Nifty and Bank Nifty.
18. Inside day means the index is likely to trade between yesterday's range.
19. There are temporary short covering in between but the overall market is quite weak.