Update:
As per the global + local set up taking into account dollar index + central bankers sensitivities(rbi & fed) + softening data + China involving in the Ukraine conflict + inter market data
One HUGE PROBABLITY outcome of the RALLY SINCE MARCH END TILL THIS WEEK Post the ADANI GANDAGI SINCE JAN END TILL MARCH END
We might be entering into a sideways range in indexes for next 30-40 days thereby would be termed as CONSOLIDATION at a future date before the VIOLENT take off ABOVE 18900!!!!
——So option buyers in index need to control their urges with respect to positional Longs !!! ——
Writer might be back post their annihilation last few weeks !!!!
This is where the punters halt for positioning themselves for the move for the rest of 2023 as we have now completed almost 33% of the year 2023 by June would be almost 50% Post that the second half of the 2023 shud see MIND BOGGLING & maniac rally in markets ….. 🔥🔥
While good stocks will continue to do well n churning likely to be the flavor for next few weeks imho !!!
Focus on good stocks for next 30-50 days they will likely giving bumper moves !
If a compulsive index player sell at resistance buy at supports of the tight range that likely will be established this week !
Big events ahead in 2023!
✅May FOMC (May 3rd)
✅Karnataka elections (May 10th)
✅countdown to 2024 LS election
✅US regional banking stabilization
✅Ukraine conflict peace via China
✅8th June RBI / 14th June FOMC
✅customary American mixed data
✅Reliance Demerger beginning
✅IT recovery trade on solid footing & stabilization of west
✅Banks continue uptick on strong lending numbers representing strong Indian economy
✅RBI rate cuts leading to upsurge in mid and small caps
✅Weak dollar = Flows into EMs
✅India most preferred EM
✅Commodities start their upmove
✅China reopening on a large scale
✅China easing
One and only risk to everything above
“Nuclear War aka World War 3”
Conclusion:
So we wait for this week for the swing high and next week for the swing low to identify the range until mid June !
That’s the plan but can change if facts and price action due to events changes anything !!!
All the best ✅
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