nifty 23/5/2022
pros
1. Dow last 30min short covering is remarkable (high)
2. Govt rate slashes on fuel by 5 and 10rs cut (very high)
3. key custom duty cut (medium)
cons
dow closure is not sure - since its expiry day (less impact)
govt rate cut - need to be given consumer, but OMC can use it as cushion (less impact)
FII selling stream (less)
wait for nifty to turn green on monday
1st target 210 sl 205 time frame 1 week
2nd target 212.5 sl 207 time frame 1 week
3rd target 220 sl 212 time frame 2 week
these are the three target levels which can be achieved within 30days
key factors:
--> 1month for RIL for becoming debt free, we can except news at any time
-->good surge in oil price after steep down in last week
-->Results are good for keeping nifty at support level 12100
-->Corno virus losing this effect - fast recovery of patients also summer is coming in China
