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Reversal or Pullback Rally? (11th Jan 2024)



1. U.S Markets closed higher Yesterday. 
2. All the Indices closed higher.
3. Right now , Dow futures are higher.
4. Gift Nifty is indicating a very minor Gap up opening.
5. Yesterday was again a volatile trading day.
6. January price action is getting Volatile day by day.
7. Nifty went through big correction in the first half and made a panic bottom.
8. Then in the second half it began to reverse.
9. The issue with trading currently is the stoploss are getting hit due to the ongoing Volatility. 
10. If you buy a call option expecting a reversal , the price action will first hit your stoploss and then target.
11. Trading without stoploss is highly dangerous so that should also be avoided.
12. Market once again wasn't able to break lower end of it's range Yesterday.
13. For the whole of January month , Nifty has been trading within 300 point range.
14. It's swinging like a pendulum , up - down , up - down but ultimately not going anywhere.
15. Maybe whole of January , this will keep happening.
16. Our Job as traders isn't to predict but it is to follow.
17. Yesterday as soon as Markets made a low in the first half it was evident of a reversal.
18. Reliance led the market rally yesterday. 
19. Index Management is happening quite well.
20. If one sector is down , another sector is being kept higher to manage index.
21. Nifty might trade between 21500 to 21800 today 

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