NIFTY: Bulls back to "Alphabets"

With today it is 10 days of fall, don't think anyone is looking for a green up tick. For sure another big number of 19000 is under attack. Already we lost near 800 points, optimists will say it is just 5% and long-term guys no need to blink.

It is not the fall or rise, it is always whether one has leveraged, or one has got in the cycle late or one got in the wrong train in the first place.

Lemons grow in hot climate, so also the lemons in our portfolio aka bull markets. Elsewhere, Google Results (Alphabet) come below expectations and stock got hammered near double digits. Forget about your mid and small cap if this is what the markets are treating to your Guru that is Google. These spreads of NVIDIA, Microsoft is the lone saviour though off from the day's high.

Effectively global markets bear, blink break the trendline across. Dollar rises and in for more gains, Yields stay stable at higher levels. Rhetoric from the officials will leave nothing on the table, if any sell on rally resumes in all earnest.

US GDP later in the day, in all expectations good news here is bad for the markets, one can search for the recession tones, but when it comes to markets it is toned down approach. More to go.

For our markets, Monday Candle with negligible wicks confirm and yesterday move with wicks on the top and bottom, does not offer any hope for the bulls. FMCG Consumption Auto Banks all join the bear move in addition to Metals, Defesive Pharma is no exception. No where to hide.

The Vertical rise late June and Early July will in all likelihood met with vertical fall, that demands 18600-18800 area as one target.

For the day new supply zone 19230 -19180 supports come around 19880. Minor support 19028 then comes 18930-1880 expect 18970 for the day below 19180.