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Bullish Markets (8th June 2023)

1. U.S Markets closed mixed yesterday. 
2. Dow Jones closed higher whereas S&P 500 and Nasdaq closed lower.
3. Right now , Dow Futures are flat.
4. Asian Markets are mostly higher.
5. S&P 500 VIX is now close to all time low.
6. The VIX is as lowest as it can be.
7. Indian Markets are experiencing no different.
8. India VIX too is at all time low.
9. Option premiums are as lowest as it can be.
10. We have 3 weeks left for monthly expiry after today and still the option premiums for monthly options are too low.
11. FII's have started buying aggressively 
12. FII's are momentum traders , once they start buying they just keep buying.
13. They are trend followers.
14.  Open interest data suggests huge writing at 18600 PE.
15. It also suggests huge Call writing at 18700 CE.
16. Yesterday, during the final hour Nifty crossed 18700.
17. This was a breakout above 18700.
18. 18600 is a strong support for today's expiry.
19. Bank Nifty has been underperforming nifty for quite some time now.
20. Bank Nifty is already at all time highs whereas nifty is yet to reach its all time highs.
21. I see Nifty reaching 18900-19000 In a while & pausing there for a while.
22. Nifty might trade between 18650 to 18900 today.


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