Do not chase todays gap up (6th March 2023)

1. U.S Markets closed higher on Friday.

2. Right now , U.S Futures are flat.

3. SGX Nifty is up 80 points.

4. Friday was a surprising day.

5. This is what stock markets offer , Uncertainty.

6. You enter the trading arena with a trading plan.

7. Markets provide something else.

8. Markets had opened with a huge gap up on Friday.

9. Also Markets opened very close to the resistance level of 17500.

10. As soon as Markets opened in started to cross 17500.

11. The moment Markets showed strength it was clear that it would be a trending day.

12. Adani issue is not as worst as expected by the markets.

13. By seeking investment from entities they have been saved by the skin of the teeth as of now.

14. Now the Nifty range has been shifted to 17500 to 17800.

15. Markers are in an uptrend now.

16. I wouldn't advice to chase today's gap up.

17. We are already sitting on 300 points rally.

18. Plus a gap up would make 400 points rally.

19. Purely from risk - reward perspective chasing the gap isn't advisable.

20. Nifty might trade between 17500 to 17800 today.

21. stockmarketadvisory.in

Comments

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