Market View: 19 Apr 24

What happened in last 24 hours worldwide:

1. USA indices fell further extending their losing streak.

2. When last checked at 8:55 AM Indian Time, most of the major Asian indices were in deep red.

3. Latest market affecting news is that Israel has conducted missile and air strikes against Iran.

4. FIIs+DIIs jointly hold nearly 52% short positions and only 26% long positions in Index Futures, indicating how they are seeing the market these days.

5. Tech stocks are expected to gain owing to good Infosys results however, the rally may not sustain long due to global factors.

6. It is expected that if market gains some points intraday, fierce selling will start again and push the market down.

7. Right now, on 30 min chart, Sell Signal is active for Nifty, if price moves up and again enters cloud area, Exit your short positions for a while. 21963 is the support zone and 22273 is the resistance zone as of now.

8. Happy Trading.