Markets in an Upswing (16th May 2023)

1. U.S Markets closed higher Yesterday.

2 Right now , Dow Futures are slightly lower.

3. SGX Nifty is higher by 40-50 Points.

4. Asian Markets are mixed.

5. Mondays are generally trending days.

6. From last 2 years im observing that Mondays are mostly the trending days.

7. Either markets closes at highest point of the day or at the lowest point of the day

8. Yesterday the markets have closed at the highest point of the day.

9. Nifty finally has crossed the important barrier of 18350.

10. I kept saying whole week that Nifty was trading in a tight range of 150 points.

11. The range was 18200 to 18350.

12. Within this range , markets were moving two way.

13. This range had to break soon.

14. Yesterday Markets have closed on a Bullish tone.

15. Bank Nifty was the outperformer.

16. It was now crossed 44k

17. Banks are steaming ahead and are outperforming nifty currently.

18. 18500 CE has the highest OI in monthly options.

19. This is likely to act as huge resistance now.

20. 18200 to 18500 is the larger range for Nifty.

21. Nifty might trade between 18300 to 18500 today.

22. Today we also have FIN Nifty expiry so things might get choppy and Volatile.

23. stockmarketadvisory.in

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