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More Steam left for Pullback Rally !! (22nd Aug 2023)


1. U.S Markets closed higher Yesterday. 
2. Right now , Dow futures are slightly lower.
3. Asian markets are mixed.
4. Gift Nifty is flat.
5. Markets have been going through a volatile phase in August.
6. With no clear trend and gap ups / gap downs almost on daily basis.
7. Expecting August to be more of a sideways type of Month.
8. Today we also have the FIN Nifty expiry.
9. On the days of FIN Nifty expiry there is adder Volatility in the option contracts.
10. Markets have been trading in a very narrow band lately.
11. Range for nifty is 19250 to 19550.
12. Bank Nifty range is 43500 to 44200.
13. It's a very dull and reversing sort of market.
14. This sort of market is perfect for option seller point of view 
15. Yesterday I had mentioned of a pullback rally and it happened exactly the same.
16. All the Global Markets had witnessed a pullback rally.
17. This pullback rally has some more Steam left before reversing out.
18. Keep in mind that this won't be a trending and speedy market.
19. Markets will move at a slow pace and as the Expiry is approaching the Theta decay would be quite high.
20. Yesterday the Mid and small cap stocks were on fire.
21. Inspite of Jio Financials poor listing & Reliance stock underperformance , markets rallied Yesterday.
22. Nifty might trade between 19250 to 19550 today.

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