Consolidation!! (25th May 2023)

1. Markets closed lower Yesterday.

2 Right now , Dow Futures are slightly lower.

3. SGX Nifty is Flat.

4. Asian Markets are mixed.

5. Yesterday was a profit booking day.

6. Yesterday Nifty was rangebound in the first half.

7. In the second half there was some Volatility.

8. Nifty for most of the day traded near 18300.

9. Today is the monthly expiry.

10. 18200 to 18400 is the range coming now for the expiry

11. Monthly expiry are also unpredictable , it can throw in lots of surprises.

12. Specially during the 2nd half of the trading session today

13. Bank Nifty is finding continued resistance near 44100 levels.

14. Support being witnessed at 43500 levels.

15. So the range for both the indices are absolutely clear.

16. Nifty range is between 18200 to 18400.

17. Bank Nifty range is 43500 to 44100 .

18. Once any of these levels get taken out then we could expect a trending move.

19. Once 18400 gets taken out then there would be a shift 100 points move towards 18500.

20. Similar if 18200 gets taken out.

21. We could again expect a trending move towards 18100.

22. FED Minutes are to be in focus today.

23. Nifty might trade between 18200 to 18400 today.

24. stockmarketadvisory.in

Comments

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1. U.S Markets closed lower on Friday. 2. All the indices closed lower. 3. Right now , Dow Futures are lower. 4. Asian Markets are all lower. 5. All the Global Markets are Negative today. 6. From Thursday to Monday Morning , U.S Markets have crashed more than 6%. 7. This is a terrible & an Alarming fall. 8. U.S VIX jumped another more than 20% on Friday. 9. This is the fearful data point. 10. Reason for all this is because of Geopolitical conflicts. 11. Iran - Israel tensions. 12. Japan currency depreciation etc. 13. All this is leading to a flash crash in the Markets. 14. 24500-24400 is a crutial support for nifty. 15. We are likely to open closer to these levels as per Gift Nifty. 16. First hour is the key today. 17. If we do not break the first hour low throughout the day then we might expect a reversal. 18. A further correction may be expected if the first hour low gets taken out. 19. Nifty might trade between 24300 to 24700 today. 20. stockmarketadvisory.in

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