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Consolidation!! (27th Feb 2024)


1. U.S Markets closed slightly lower Yesterday. 
2. Gift Nifty is indicating a small gap up opening.
3. Right now , U.S futures are lower.
4. Nasdaq closed at another fresh record high Yesterday. 
5. Asian markets are slightly lower.
6. Markets in the Month of February have been behaving quite unusual.
7. There has been extreme Volatility and then extreme ranging Markets.
8. It's a mix of both of these stuffs.
9. Market to me currently looks like a tired bull.
10. A bull which has ran up so much that it's tired now and needs some rest.
11. This is specially the case for mid & Small cap stocks that have run up a lot.
12. Markets waiting for next big news to decide the direction.
13. 22000 is now a very crutial support for this expiry.
14. I don't think this would break until there is some very bad news.
15. 22300 & 22400 are the resistance zones.
16. Expecting markets to consolidate for a while now.
17. Between 22200 to 22300 expect the markets to be boring & rangebound. 
18. Bank Nifty is expected to underperform nifty in the short run.
19. Nifty might trade between 22100 to 22400 today.

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