Nifty to reach All time high?? (30th April 2024)

1. U.S Markets closed higher Yesterday.

2. All the indices were higher.

3. Asian markets are all higher.

4. U.S VIX is now below 15.

5. Gift Nifty is indicating a flat opening.

6. VIX below 15 indicates markets are in a safe zone and there would be less Volatility ahead.

6. Yesterday, the hero was Bank Nifty.

7. Banking stocks were on fire yesterday.

8. Bank Nifty was up more than 1000 points yesterday.

9. Can one imagine, such rally in a day.

10. The beautiful part about this rally is UT came without any news.

11. It was just pure buying.

12. Nifty is now 200 points away from its all time high.

13. Nifty is likely to go to new highs soon.

14. 20500 PE has the highest OI in weekly options.

15. This naturally becomes a strong support now.

16. First resistance now at 22850 & second at 23k.

17. Markets are likely to be flat to minor positive.

18. This is the view I'm trading with currently.

19. Nifty might trade between 22500 to 22800 today.

20. stockmarketadvisory.in

Comments

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1. U.S Markets closed lower on Friday. 2. All the indices closed lower. 3. Right now , Dow Futures are lower. 4. Asian Markets are all lower. 5. All the Global Markets are Negative today. 6. From Thursday to Monday Morning , U.S Markets have crashed more than 6%. 7. This is a terrible & an Alarming fall. 8. U.S VIX jumped another more than 20% on Friday. 9. This is the fearful data point. 10. Reason for all this is because of Geopolitical conflicts. 11. Iran - Israel tensions. 12. Japan currency depreciation etc. 13. All this is leading to a flash crash in the Markets. 14. 24500-24400 is a crutial support for nifty. 15. We are likely to open closer to these levels as per Gift Nifty. 16. First hour is the key today. 17. If we do not break the first hour low throughout the day then we might expect a reversal. 18. A further correction may be expected if the first hour low gets taken out. 19. Nifty might trade between 24300 to 24700 today. 20. stockmarketadvisory.in

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