Gap up from lower end of the Range !! (9th Jan 2024)

1. U.S Markets closed higher Yesterday.

2. Right now , Dow Futures are mixed.

3. Asian markets have recovered significantly from Yesterday lows.

4. Nasdaq outperformed Yesterday and was up more than 2%.

5. Markets are going through a consolidation phase.

6. Bank Nifty was the underperformer yesterday and today it might outperform.

7. Nifty closed near the lower end of the range yesterday.

8. Today we are witnessing a big gap up.

9. Nifty range is 21500 to 21800 and this I've been pointing out on a daily basis

10. Bank Nifty is trading within 47500 to 48200.

11. The issue to trade this range now is yesterday markets closed at the lower end of the range.

12. Traders expected the lower End of range ie , 21500 to break with a gap down.

13. Very few expected a reversal and bought calls.

14. Reversals happening intraday are the best ones to trade.

15. Reversals that are happening by large gaps are just luck if you made money.

16. This is because gap openings won't go in your favour everytime

17. Unless we close below 21500 or above 21800 on Nifty one shouldn't expect a big move.

18. Unless we break below 47500 or close above 48200 one shouldn't expect a bug move on Bank Nifty.

19. Do not try to trade and predict gap openings as if they go wrong they can wipe you out.

20. Nifty might trade between 21500 to 21800 today.

21. stockmarketadvisory.in

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