Market on Dec 24, 2024

Daily Journal: Nifty gave a bounce yesterday. Closed above 200DEMA. But we cannot call it a reversal yet. It is just a retracement. As volumes will be low in the markets this week. There will be less selling pressure. So this week could be a week of consolidation in the markets. Use this short term weakness to accumulate good companies for long term. 6-12 months from now you will be a rewarded. US markets had a good session yesterday. All the 3 indices closed in green. FIIs will be on a holiday now. Futures are trading flat. 10Y Bond Yield is at 4.5%. Brent Oil is at 72$. Dollar Index is at 107. Asian Markets are trading in green. Consider global cues as neutral to positive today.