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Roaring Markets !! (5th July 2023)


1. U.S Markets were shut Yesterday. 
2. Right now , Dow Futures are flat.
3. Asian markets are mixed
4. SGX Nifty is indicating a gap up of 10 points.
5. The rally for nifty continued Yesterday as well.
6. Nifty crossed 19400 Yesterday. 
7. Nifty has been in a continued upside since past 6 trading sessions.
8. As soon as 18900 was taken out there has been quick 500 point rally.
9. Now Nifty is near the resistance of 19500.
10. Markets cannot be going up in a straight line on a daily basis.
11. Vertical rallies are always led by vertical falls.
12. Such rallies ain't good for the health of stock market.
13. Markets continue to trade well if they move up gradually.
14. Yesterday the Advance - Decline ratio was in favour of declines.
15. The Declining stocks were more as compared to the Advancing stocks.
16. Mid cap index closed in red Yesterday. 
17. Few index heavyweights like Bajaj Finance etc held up the index Yesterday. 
18. Expect some consolidation in the markets currently. 
19. There should be a support near 19200 levels.
20. Expect nifty to trade between 19200 to 19500 for a while 
21. The same would be my range for the day as well.

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