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Yesterday's high to be the top for August (25th August 2023)

1. U.S Markets crashed Yesterday.
2. Right now , Dow futures are marginally higher. 
3. Asian markets are mixed.
4. Gift Nifty is down 60-70 points.
5. Yesterday could be termed as a big reversal day.
6. Both the Indices Nifty & Bank Nifty opened with huge gap ups.
7. Nifty touched 19600 and Bank Nifty hit 45k.
8. Stayed there for a brief moment and then started to reverse.
9. The reversal was so huge that Nifty kept falling down.
10. Bank Nifty also gave up all of its gains and was In red.
11. There was a major profit booking after a huge rally yesterday.
12. Many expiry option sellers have gone bankrupt yesterday. 
13. Many of them have sold single digit puts in order to make easy profits instead made huge losses yesterday. 
14. Option selling is not as easy money as its made visible.
15. Specially In these kind of markets it requires highest level of expertise to generate returns via option selling.
16. Nifty looks comparatively very weak wrt Bank Nifty. 
17. After the listing of JIO Financials , Reliance has been falling continuously. 
18. This isn't supporting Nifty at all , Adani group is also down due to various reasons.
19. Banks were the one holding up Nifty from past couple of days.
20. Now they have also started to shed off their gains.
21. 19250 to 19600 is the range for nifty now.
22. If 19250 gets taken out then we may see much lower levels on Nifty.
23. Nifty might trade between 19250 to 19450 today.


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