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Consolidation !! (3rd Sep 24)



1. U.S Markets were shut Yesterday. 
2. Dow futures are lower right now.
3. Asian Markets are mixed.
4. Gift Nifty indicates a very flat opening.
5. Yesterday Bank Nifty showed some strength in the 2nd half of the trade
6. Banks are becoming a value buy right now.
7. Banks are 4% away from record highs currently.
8. If Banks catch up and hit a record high , they can itself take Nifty to 26k.
9. Right now the market is almost directionless.
10. There is no major trigger to come by.
11. So consolidation with a slight Bullish bias is expected.
12. 25k is a very important support now for positional traders.
13. 25200 is an immediate support for Intraday traders.
14. It's always beneficial to sell options in this kind of environment rather than buying options.
15. Buying options have the risk of decaying of premiums over time.
16. Going with spreads is also a good option.
17. 25k is a very important support now on Nifty.
18. As long as this holds , the view is positive & it's a buy on Dip market.
19. If this breaks decisively , then there might be more downside.
20. Nifty might trade between 25150 to 25450 today.

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