Market on Dec 26, 2024

Daily Journal: US Futures are trading flat. 10Y Bond Yield is at 4.5%. Brent Oil is at 73$. Dollar Index is at 107. Asian markets are mixed. Consider global cues as neutral for today. Nifty is trying to protect the 200DEMA zone. It is unable to show a good bounce back. This shows the lack of strength in the markets. My short term view on the Indian markets remains CAUTIOUS. For traders it is a sell on the rise market. For investors gradual accumulation for long term can be done. But do not expert a sharp recovery very soon. I suspect that the results for Q3 might be weak. That’s why the markets are showing this weakness in acticipation. There is no major news flow from the global markets. The weakness is our own. As the weakness can continue for longer the best strategy is to sit on some cash and deploy is gradually. If you have patience for 6-12 months, you will get rewarded well. 23250 is the support zone and 24400 is the resistance zone. Markets are expected to remain in this range for some time.