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Rally from 21500 today? (10th Jan 2024)




1. U.S Markets closed mixed Yesterday. 
2. Nasdaq closed slightly in green whereas S&P 500 & Dow Jones closed lower.
3. Right now , Dow futures are slightly lower.
4. Yesterday was a huge Volatile day.
5. January price action is getting Volatile day by day.
6. Although,  the Volatility is within a range but it's still mind boggling.
7. Yesterday,  Nifty opened with a 100 point gap up , then the short covering happened and Nifty rallied more 100 points.
8. In the 2nd half , from the levels of 21700 , there was a big reversal and Nifty closed near 21500 levels.
9. This sort of consolidation is good for the Bulls in long term.
10. December was an excellent month for the Bulls.
11. Consolidation in the Month of January would mean markets are taking a pause before further rally.
12. Markets don't move in a straight line all their life.
13. It moves in peaks & Valles.
14. Today after the gap down opening , expect markets to take support near 21450-21500 range.
15. We may expect recovery from the above levels.
16. If we break 21450 & close below the same then we would be heading towards 21200 which is 2nd support. 
17. 21k is the final support but I don't think situation would turn so worse.
18. All in all this us a reversing market.
19. Buy gap downs & sell gap downs when markers are at extreme levels.
20. Do not hold for long expecting a big move.
21. Nifty might trade between 21450 to 21750 today 



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