Weekly Expiry !! (17th August 2023)

1. U.S Markets closed lower Yesterday.

2. Right now , Dow futures are slightly higher.

3. Asian markets are lower.

4. Gift Nifty is down 50 points.

5. Markets have been going through a volatile phase in August.

6. With no clear trend and gap ups / gap downs almost on daily basis.

7. Bank Nifty is the one facing the maximum heat.

8. Yesterday the IT index saved nifty.

9. The closing looks respectable on Nifty only due to IT index.

10. Yesterday I had given a hint for IT Stocks outperformance.

11. For the last 2 trading sessions , Nifty has been falling in first hour and then closing at the highest point of the day

12. We are in a sideways market but it's coming with huge Volatility.

13. Nifty and Bank Nifty both are in a sideways zone and both are highly Volatile.

14. Today we have weekly expiry and its expected to be rangebound as well.

15. 19350 to 19550 is the expected range for today's expiry.

16. If due to short covering 19500 gets crossed then we have room for nifty to even go higher.

17. Most likely it's expected to be an inside day on Nifty and Bank Nifty.

18. Inside day means the index is likely to trade between yesterday's range.

19. There are temporary short covering in between but the overall market is quite weak.

20. stockmarketadvisory.in

Comments

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Global Markets Mayhem !! (5th Aug 24)

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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