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Markets at swing high !! (9th May 2023)



1. U.S Markets closed lower yesterday. 
2. Right now Dow Futures are slightly lower.
3. SGX Nifty is up 20-30 Points.
4. Asian Markets are mostly lower.
5. It was a complete U-turn yesterday.
6. Friday there was a huge profit booking in the markets 
7. Bank Nifty had crashed 1000 points on Friday
8. Yesterday it was complete opposite.
9. It was a huge short covering rally yesterday and markets closed at the highs of the day.
10. It was a huge zig - zag type of move yesterday. 
11. India VIX is close to 13 now.
12. Option premiums are ultra low now.
13. Expect premiums to stay lower in the coming months too 
14. I'm having a Bullish view on the markets now.
15. First support for nifty is at 18200.
16. Major support to come around 18050 levels.
17. Many shorts are still in the system due to Friday's move and they are likely to cover in due time.
18. That would cause further rally in the markets.
19. Ride your longs , trail your stoploss to ride the big move.
20. In trending markets , trading large moves makes you big money.
21. Trading 30-50 Points intraday would give you income but not substantial wealth.
22. Riding large moves should be of foremost importance for a trader.
23. Nifty might trade between 18200 to 18400 today.

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