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Ranging Markets!! (12th July 2023)


1. U.S Markets closed higher yesterday 
2. Dow Jones closed higher whereas Nasdaq closed flat.
3. Right now , Dow Futures are flat.
4. Asian markets are mixed.
5. Gift Nifty is indicating a gap up of 50-60 points.
6. All over the World , IT Stocks have been underperforming compared to other stocks.
7. In the U.S & in India the similar situation is being persisted.
8. Mid & Small caps have been outperforming the Nifty.
9. They are firing on all cylinders.
10. Majority of the portfolios are now in gains.
11. During this situation is when you got to be extra careful.
12. It's time to take 30-40% profits off the table and stay invested for remaining.
13. If you are having junk stocks which you know were for trading its better to get rid of them now.
14. Markets won't provide exit opportunities later on.
15. 19300 to 19500 range is still being held on the Nifty.
16. Yesterday as well nifty had reversed from 19500.
17. Once 19500 is crossed we would be heading higher. 
18. Until then , it's advisable to buy near 19300 with a stop of 50 points and short near 19500 with a strict stop.
19. Bank Nifty is also in a range of 500 points.
20. Bank Nifty range is 44500 to 45000.
21. Same ranging strategy which was applied for Nifty can be used for Bank Nifty as well 
22. Nifty might trade between 19300 to 19500 today.

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