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Time to be Cautious on Long side !! (19th June 2024)


1. U.S Markets closed mixed Yesterday.
2. Asian Markets closed mixed.
3. Gift Nifty indicates a gap up of 50+ Points.
4. Yesterday was the day of Bank Nifty. 
5. There was clear outperformance of Bank Nifty compared to Nifty
6. Bank Nifty inching towards 51k.
7. Nifty inching towards 23800.
8. In Bull Markets often we get very much complacent over the long side.
9. We keep buying on any level , any gap up etc.
10. This is the time to be cautious.
11. Cautious only for June expiry.
12. Also there have been rumours floating around that FM is considered a reduction of tax rates.
13. As you might have learnt from the elections,  never trust any rumour.
14. Nobody knows what's going to happen in reality.
15. Last week of expiry is always highly Volatile.
16. We are closer to it now.
17. 23800 on Nifty and 51k on Bank Nifty are the final targets for June.
18. Markets might rally more from here In June itself but it's better to take some profits off the table.
19. Do not intend to make the last month in stock markets,  that's where majority get trapped.
20. Nifty might trade between 23400 to 23700 today.

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