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FIN Nifty Expiry!! (23rd May 2023)


1. U.S Markets closed mixed Yesterday.
2  Right now , Dow Futures are slightly higher.
3. SGX Nifty is higher by 40-50 Points.
4. Asian Markets are higher.
5. Yesterday was a momentum continuation day.
6. Nifty carried its momentum from Friday and closed at the highs of the day.
7. Last 2 trading sessions , Nifty has closed at the highest point of the day.
8. Before the last 2 trading sessions,  for 3 consecutive trading sessions Nifty closed in red.
9. Nifty had reversed from 18400 levels all the way to 18050 levels.
10. In the last 2 trading sessions , it has reversed all the way from 18050 levels to 18300.
11. The larger trend of the markets is Bullish.
12. In was just a shake off in between to cut the weak longs off.
13. Markets was in a continued upswing and almost everyone was long on the markets.
14. Hence it was a jerk to cut the weak longs off.
15. 18050 to 18400 is the bigger range for Nifty now.
16. Nifty is trading violently within this range.
17. Volatility has increased in this final week of trading.
18. There have been sudden and drastic moves during Intraday.
19. I would taking a trending move only when 18050 or 18400 is taken out.
20. Until then , would prefer to trade the range.
21. After FIN Nifty expiry, Tuesdays have become highly Volatile. 
22. Nifty might trade between 18200 to 18450 today.

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