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Bullish Momentum !! (17th July 2023)


1. U.S Markets closed higher on Friday.
2. All the indices closed higher.
3. Right now , Dow Futures are slightly lower.
4. Asian markets are higher.
5. Gift Nifty is indicating a very flat open.
6. Nasdaq and Indian IT Stocks have now been outperforming.
7. During Bull Markets , there is sector rotation that keeps happening.
8. Money moves from one sector in a Jiffy.
9. Investors after investing in hot stocks make those stocks so expensive that they go out of favour.
10. Money is been withdrawn from them and invested in stocks that look attractive.
11. IT Companies have also come with good results hence the Bullishness.
12. FIIs were net buyers 2650 cr where as DII's wre net sellers 800 cf.
13. Fridays last 30 minutes were quite interesting.
14. Nifty crossed 19500 and the Markets just rallied one way.
15. Thus giving a closing above 19500 levels.
16. Bank Nifty on the other is on the verge of crossing 45000.
17. 19500 should act as a good support for nifty.
18. Risk reward favours in going long for initial targets of 19700 on Nifty. 
19. Nifty might trade between 19480 to 19700 today.

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