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Pre - Market Analysis (2nd December 2022)

U.S Markets closed mixed yesterday. Asian markets were mixed yesterday.  Right now , dow futures are lower. Asian markets are also lower right now. SGX Nifty is down 40-50 Points. Yesterday the star of the show was IT index. IT index was higher more than 2% yesterday.  Now the money is shifting from Banking stocks to IT stocks. All this while it was exactly the opposite. I sense that markets have run up too fast too quick. A minor correction / profit booking would be healthy Markets moving in a straight line is always unhealthy. As and when the correction comes it could be destructive. Minor profit booking helps the market texture going forward. India VIX is significantly below 14 now. Yesterday there was a bit higher Volatility than normal days. Markets top out or bottom out with Volatility.  18900 should be difficult to cross in the short term. Nifty might trade between 18700 to 18900 today.
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Pre - Market Analysis (1st December 2022)

U.S Markets closed higher yesterday.  Asian markets are higher. SGX Nifty is higher 80-100 points. Markets are now firing on all cylinders. Yesterday last 30 minutes nifty scaled higher by 100 points. I mentioned yesterday that big move would come if 18700 is taken out. Once 18700 got breached , there was a huge rally. Markets looking excessively bullish right now. We do not know where will this momentum stop. Until then we just have to ride the trend. Keep trailing the stoploss and keep riding the trend. That's the way to go from here We have weekly expiry today and expirys generally can be volatile. Particularly after 2 pm Volatility is likely to increase. So it's better to close positions by 2 pm. The only worry I have is Gujarat state elections. Markets are going into the elections with huge optimism. Thats the only worry as of now as any disappointment could cause a big crash. Nifty might trade between 18600 to 18900 today.

Pre - Market Analysis (30th November 2022)

Dow Jones & S&P 500 closed flat yesterday.  Nasdaq closed lower yesterday.  Asian markets are mixed. SGX Nifty is as flat as it can be. Yesterday Nifty took out its all time high of 18607. After taking out its all time high , Nifty started racing towards 18700. Nifty went close to 18700 during the day. Last hour there was a heavy profit booking and Nifty once again crashed again 70-80 points from day high. This profit booking in last hour has been happening since two trading sessions. 18500 is now a crucial support for the markets. Generally , in the past as and when all time high is taken out , markets consolidate for a few trading sessions. Expecting markets to consolidate for this weekly expiry. Next leg of rally is highly Likely after a consolidation phase in the market. Markets rallying in straight line isn't a positive sign always. As when there's profit booking , it will be severe. FII"s and DII"s both have turned net buyers  , now there'

Pre - Market Analysis (29th November 2022)

U.S Markets closed lower yesterday.  All indices were down more than a percent. Most importantly,  U.S VIX jumped 8%. Right now Dow futures are slightly higher. SGX Nifty is down 60-70 points. Yesterday the star of the show was Reliance. Yesterday as well nifty opened lower but the dip was bought into immediately.  Reliance was up more than 3% and that took markets higher single handedly. There was slight profit booking in the last hour. Nifty fell by 50 points. Nifty is just 60 points away from all time highs. Bank Nifty has already crossed its all time high of 41k. Markets are highly bullish right now Any sort of dip is being bought into quite aggressively.  Global markets turned weak yesterday on Covid issues. Indian Markets continued optimism. Thanks to Reliance Industries.  I do not expect all time high to be taken out so easily. We might consolidate a bit before crossing all time high. Nifty might trade between 18400 to 18650 today.

Pre - Market Analysis (28th November 2022)

U.S Markets closed mixed on Friday. Right now Dow futures are  lower. SGX Nifty is down 80-100 points. Asian markets are also lower. Nifty is likely to have a gap down opening today. Reason for a gap down is China Covid cases. China has again started to report high number of covid cases. Yesterday the Covid cases were at 40k in China. This is inducing  a fresh fear in the markets. Covid problem is not a new issue. This has been going on since long. There shouldn't be any shock treatment to the markets due to the same. Also I've been noticing since many days markets have not been opening as per SGX. So we cannot have an exact idea related to market opening now a days. China cannot be trusted as well. They might be manipulating numbers to induce fear. If we have a large gap down then it's a great buying opportunity.  Trend is positive so opportunities like these should be cashed into. 18300 PE has the highest open interest in monthly options. 19000 CE has the high

Pre - Market Analysis (25th November 2022)

U.S Markets closed slightly lower yesterday.  Right now Dow futures are slightly lower. SGX Nifty is down 40-50 points. Nifty is likely to have a gap down opening today. Yesterday was a terrific expiry for Bulls. Usually on monthly expiry big moves are expected. As too many contracts expire on the same day. Yesterday it was the same story. As soon as nifty broke out of 18400 , there was a huge rally. In just 30 minutes nifty shot up 70-80 points. Now the Nifty future premium for December series is too high. Nifty future is trading near 18600-18650. Such huge premium indicates excessive bullishness in the markets. Yesterday sensex and bank nifty hit all time highs. Now , 18000 is a very strong support. We might have resistance at 18600 nifty spot. Once this is taken out then next resistance is only at 19k. The trend is bullish and markets are Bullish too. Nifty might trade between 18350 -18600 today.

Pre - Market Analysis (24th November 2022)

U.S Markets closed slightly higher yesterday.  Right now Dow futures are slightly higher. SGX Nifty is higher by 40-50 points. Nifty is likely to have a gap up opening today. Yesterday india VIX closed below 14. Premiums are too low now for options. Option sellers have enjoyed since last 2 months. This low premium environment can be dangerous one. Now its not the time to create any fresh naked positions. Expecting next event which could trigger an upmove could be the Gujarat elections. Elections are between 1-5th December and that could add up some sort of Volatility.  Until then expect markets to be within range. Also near December end foreigners go on a holiday for Christmas.  Volumes dry up a lot. Closer to budget by Jan we might see momentum pick up. Until then we have to tolerate such boring ranging moves. Previously,  Nifty used to move 300 points in a day now it has reduced to just 100 points Texture of the markets keep changing. Those who adapt to it in the best pos