Consolidation to Continue? (12th Jun 2024)

1. U.S Markets closed mixed yesterday.

2. S&P 500 closed flat, dow closed slightly lower.

3. Nasdaq closed higher.

4. Right now , Dow futures are flat.

5. Gift Nifty is indicating a gap down of 50 points.

6. Yesterday, the India VIX crashed 8-9%.

7. Now the VIX is in a comfortable zone below 15.

8. VIX below 15 indicates sustained bull Market.

9. From the past 2 days , Nifty is trading above 23300 until 2.30 PM

10. In the final hour , there is a sell off.

11. On the Index level there is consolidation.

12. Stocks level , midcaps and small caps are outperforming.

13. 23200 to 23400 is the range for Nifty currently.

14. Last 2 days this has been the trading range.

15. Bank Nifty also is in a consolidation zone.

16. All eyes now would be on the Union Budget.

17. The policies, the framework that this Govt will bring will be a key to watch.

18. Until then there isn't any major event that can have big impact on the markets.

19. Nifty might trade between 23150 to 23450 today.

20. stockmarketadvisory.in

Comments

BJP Falls short of Majority (5th June 2024)

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Global Markets Mayhem !! (5th Aug 24)

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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