Choppy Markets!! (29th August 2023)

1. U.S Markets closed higher yesterday.

2. Right now , Dow futures are marginally higher.

3. Asian markets are higher.

4. Gift Nifty is up 40-50 points.

5. Yesterday for 2 consecutive trading sessions, U.S Markets were higher.

6. This is a rare feat in August series.

7. August series was very choppy and markets have been all over the place.

8. In such kind of markets , if there's a trending move for 2 consecutive trading days then it's good for traders.

9. I've been mostly trading intraday in August series.

10. As we do not have an idea what may happen the next day due to gap up or gap down.

11. Yesterday the markets have shot up from support levels.

12. Nifty reversed from 19250 and Bank Nifty reversed from 44200.

13. These 2 have become important support levels in the coming days

14. There could be erratic moves and reversals in this expiry as well as this is the final week of August expiry.

15. On the final week of expiry , there is huge Volatility.

16. So one should be careful about carrying positions till Thursday.

17. I don't expect big moves in the market as of now.

18. Yesterday Reliance AGM was held and Reliance fell in the After hours of trade.

19. Nifty might trade between 19250 to 19450 today.

20. Bank Nifty might trade between 44200 to 45000 today

21. stockmarketadvisory.in

Comments

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