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18200 - 18500 (12th May 2023)


1. U.S Markets closed lower yesterday. 
2. Dow Jones was weaker among all the indices.
3. Nasdaq closed slightly higher.
4. Right now , Dow Futures are slightly higher.
5. SGX Nifty is down 40-50 Points.
6. I don't think we will be opening that lower.
7. Yesterday was a flat expiry.
8. There was large moves in between to trap option writers.
9. All in all it was a stable expiry.
10. Nifty is now trading in a right range.
11. 18200 to 18350 is the range for nifty.
12. Many a times it has been moving within this range.
13. This range would not hold on forever 
14. There would be a possible move either side.
15. I expect a breakout above 18350 soon.
16. Markets are in an upswing and as we have moved higher too quick there's a consolidation going on.
17. Expect this consolidation to continue until elections verdict.
18. There's a big move possible hence it's better to keep your positions light over the weekend.
19. I'm personally not carrying any positions over the weekend.
20. Traders work hard from Monday to Friday with mental pressure as well.
21. It's important to have a relaxing mind over the weekend.
22. It's important not to let SGX Nifty dominate the mind.
23. Nifty might trade between 18200 to 18350 today.

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