Markets rally against Global Trend (8th Sep 2023)

1. U.S Markets closed mixed Yesterday.

2. Right now , U.S futures are mixed.

3. Asian markets are mixed.

4. Gift Nifty is indicating a flat opening.

5. Yesterday was again a perfect V- shape rally in the markets.

6. Nifty was down in the first half and took support near 19550 and then began to rally.

7. Days like these make the intraday expiry option sellers out of the game.

8. I had stopped expiry trading long long ago.

9. It's a stupid trade strategy where you sell options for peanuts .

10. Days like yesterday wipe out all the hardwork.

11. I prefer to trade in next expiry as the decay there is higher as well.

12. Now the larger range for Nifty shifts to 19500 to 20k.

13. Expect Nifty to trade in this range for a while

14. Trend is extremely Bullish and all the dips are being bought into.

15. Today is Friday and there might be a countertrend move.

16. Markets were higher for all of the week days and today traders might look to book profits

17. We may expect a consolidation/ profit booking today.

18. Last 2 days we had rallied against the global trend.

19. Bank Nifty is near resistance of 45000.

20. Profit booking in long Positions shouldn't be a bad strategy

21. Nifty might trade between 19600 to 19850 today.

22. stockmarketadvisory.in

Comments

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