Long Consolidation (15th May 2023)

1. U.S Markets closed lower on Friday

2 Right now , Dow Futures are slightly lower.

3. SGX Nifty is down 40-50 Points.

4. Asian Markets are mixed.

5. Election results were announced over the weekend.

6. We all know the outcome , how market will react to the same is a big question

7. There would be a first hour Volatility In the markets.

8. As the market will open.

9. Expecting markets to settle later on.

10. Markets are still in that tight range.

11. 18200 to 18350 is a tight trading band.

12. Nifty us moving Vigorously within these levels.

13. If this range doesn't get taken out in first hour then expect this range to continue for some more days.

14. This has already been a long consolidation within this range.

15. Bank Nifty was the outperformer on Friday.

16. Banks look much more stronger than Nifty currently.

17. Elections verdict according to me is likely to be a Non - Event.

18. I don't see big market change due to the same

19. Individual banking stocks look strong.

20. IT looks weak.

21. Nifty might trade between 18200 to 18400 today.

22. stockmarketadvisory.in

Comments

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