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Consolidation (19th April 2023)

1. U.S Markets closed mixed yesterday. 
2. Right now , U.S Futures are trading mixed.
3. Asian markets are mixed.
4. SGX Nifty is indicating a gap down of 40-50 points.
5. I had mentioned on whatsapp that I'm expecting a retest of 17700 -17650 soon.
6. Yesterday Nifty almost touched 17600.
7. Market opened with a slight gap up opening yesterday. 
8. This gap up was immediately sold into
9. Market from there recovered and went higher again.
10. Yesterday for the whole day Nifty was trading in a tight range.
11. 17600 to 17700 was the range.
12. Within this range consolidation was on.
13. Bank Nifty range was 42000 to 42400.
14. In this range there have been many ups and downs yesterday 
15. Markets are In a consolidation stage with slight negativity.
16. Consolidation is always good as Markets find time to settle and make a larger move later on.
17. Yesterday it was the FIN Nifty expiry.
18. Premiums were too less yesterday but markets moved violently.
19. Reliance is the stock on radar.
20. It has strong support near 2180-2200 and the CMP is 2300 , one could consider buying currently with a target of 2600-2800. (Short term Call)
21. Nifty might trade between 17600 to 17800 today.
22. stockmarketadvisory.in



































































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