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Markets near All time high (21st June 2023)


1. U.S Markets closed lower yesterday.
2. Dow futures are flat right now.
3. Asian markets are mixed.
4. SGX Nifty is indicating a gap down of 20 Points.
5. Yesterday was a volatile trading session.
6. As soon as Markets opened there was heavy selling.
7. As I pointed out yesterday's range of 18640 to 18900.
8. Nifty went all the way near 18650 or so.
9. Took support and reversed.
10. The reversal was so huge that Nifty crossed its day high and closed at the highest point of the day 
11. It was almost 200 points reversal from the lows of the day.
12. As the FIN Nifty expiry has been introduced on Tuesdays , there has been added Volatility. 
13. Nifty is Trading in a tight range of 18600 to 18850.
14. Crossing of any one of these levels would lead to a trending kind of move.
15. Bank Nifty on the other hand has been underperforming. 
16. Compared to that of Nifty , Bank Nifty lacks momentum currently.
17. 44100 is a crucial level for Bank Nifty. 
18. It has had multiple resistances near this level and reversed many times.
19. To gain strength,  44100 has to be crossed with momentum here.
20. Nifty might trade between 18600 to 18900 today.

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