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Relentless Selling (18th May 2023)


1. U.S Markets closed significantly higher yesterday. 
2  Right now , Dow Futures are slightly lower.
3. SGX Nifty is higher by 40-50 Points.
4. Asian Markets are mixed.
5. Yesterday was again a trending day.
6. It was a trending day towards  downside.
7. Nifty opened around 15 points higher yesterday and Bank nifty around 100 points.
8. As soon as Markets opened there was a relentless selling.
9. Nifty from 18300 dragged down all the day close to 18100.
10. Last 30 Mims there was some recovery due to short covering.
11. India VIX closed flat yesterday. 
12. The kind of Volatility it was yesterday,  VIX isn't reflecting the true picture.
13. As soon as Markets are coming to the flag end of May month,  Volatility has shot up.
14. It's advisable to keep your Positions as light as you can.
15. Do not sell naked options in such environment. 
16. Always use risk defined strategies to gain edge in such market conditions. 
17. Expect some sort of support near yesterday's low.
18. 18100 to 18300 is the current range for Nifty now.
19. Bank Nifty looks stronger of the two indices.
20. When we compare between Nifty & Bank nifty. 
21. I somewhere have a gut feeling today that we might have a trending day upwards 
22. Least to least don't expect yesterday's low of be broken today 
23. Nifty might trade between 18100 to 18300 today.

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