1. U.S Markets closed higher yesterday
2. All Indices closed very high.
3. Right now , U.S Futures are flat
4. Gift Nifty is indicating a 60-70 point downtick.
5. Asian markets are mixed.
6. U.S Vix is now below 14.
7. Yesterday was a boring consolidation day for the markets.
8. It was a flat opening and the same continued throughout.
9. There were some drastic moves during intraday , but all within a range.
10. I expect this consolidation to break on the higher side.
11. 19600 is a strong support and 19850 is the resistance.
12. A bigger move would come only when any of these level break
13. Bank Nifty yesterday showed signs of short term bottom
14. Correction in the financial space has been overdone.
15. Guidelines and limits are good for financial stocks in the long term.
16. IT index is in a Bull market.
17. Nasdaq in U.S is outperforming other indices like Dow Jones & S&P 500.
18. Indian IT Stocks were underperforming since a long time.
19. Now tye laggards , IT & Pharma are catching up.
20. Nifty might trade between 19600 to 19850 today.