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Resilient Markets !! (16th May 2024)


1. U.S Markets closed higher Yesterday.
2. U.S Markets have hit a fresh all time high.
3. All the Global Markets are Positive.
4. This Year we have election in the U.S
5. Past data suggests that U.S Markets have rallied before Elections. 
6. We had fallen 1000 points instantly and now we are recovering back stronger.
7. Gift Nifty is up 100+ Points.
8. 22300-22350 is the next resistance zone currently.
9. Once this is crossed then we can expect a fresh upswing.
10. Until then Markets would consolidate with Positive bias.
11. VIX above 18 is still cautious sign.
12. It's not too dangerous but it's cautious.
13. VIX below 18 indicates stability and consistency.
14. Today is weekly expiry too.
15. Yesterday Bank Nifty was weak due to expiry issues.
16. Today it might catch up and join the rally.
17. I have stopped trading expiries long ago.
18. This is because the sudden movements caused by Algo players there's very poor risk reward.
19. I mostly prefer selling a bit longer term options so that we can manage them.
20. Also trading with spreads is a good way in this market.
21. Doing naked option buying is the road to Bankruptcy. 
22. Now we have very strong supports at 22100 & 22k.
23. Nifty might trade between 22100 to 22400 today.

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