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Finale Expiry Week (19th May 2023)


1. U.S Markets closed  higher 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 strange trading day.
6. I say strange because SGX Nifty pre market was showing 30-40 point gap up opening.
7. Nifty opened around 120 points higher.
8. This was a huge gap up out of nowhere.
9. So naturally it was an excellent shorting opportunity. 
10. The Volatility again yesterday was super high.
11. Nifty tested the previous day low of 18100 once again yesterday. 
12. There was an intense selling during the last 30 minutes yesterday. 
13. Surprisingly,  INDIA VIX hasn't inched higher in last 3 days of extreme sell off.
14. This shows that there is lesser panic in the markets right now. 
15. Currently,  we have a good risk - reward trade opening up on Nifty.
16. 18100 looks as a double bottom being made on Nifty for the short term.
17. There are fever indications for the same 
18. One could go long near 18100 with a stoploss of 50 points for targets of 18200 -18300.
19. Bank Nifty is stronger than Nifty currently.
20. Nifty might trade between 18050 to 18300 today.

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