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Breakout !! (15th Jan 2024)



1. U.S Markets closed slightly higher Yesterday. 
2. All the Indices closed higher.
3. Right now , Dow futures are flat.
4. Gift Nifty is indicating a gap up opening of 70+ Points.
5. On Friday nifty crossed the important Hurdle of 21850.
6. It just didn't cross this crucial level , it closed above this.
7. This indicates bullishness in the markets.
8. This range was taken out after 2 weeks ie , almost 10-11 trading sessions.
9. There are many call writers at 22k & 48200 for Bank Nifty.
10. If this gap up sustains , they would be trapped.
11. That itself would take the markets even higher.
12. Support at 21800.
13. Unless 21800 doesn't break,  Bullish view is valid.
14. Nifty looks much strong now than Bank Nifty. 
15. Thanks to IT company results.
16. IT companies were on fire at Friday.
17. Wipro ADR closed higher by 18%.
18. Today WIPRO is likely to open at least 10% higher.
19. IT index has the second highest weightage in Nifty , IT Stocks haven't performed well in last 2 years.
20. If IT index makes a comeback then it would keep nifty higher.
21. Nifty might trade between 21850 to 22150 today.

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