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Pre - Market Analysis (22nd March 2020)

  1. Asian markets are slightly positive.
  2. Dow Futures are trading lower.
  3. SGX Nifty is trading around 14800.
  4. On Friday , within few minutes of Market opening Nifty and Bank Nifty broke the Monthly low.
  5. Nifty made a low of 14350 but then bounced back 350+ Points by the end of the day.
  6. This was supported by big short covering later during the day.
  7. US markets showing divergence.
  8. Dow Futures down but Nasdaq is up.
  9. U.S Markets are in a Consolidation phase.
  10. Indian Markets too on a close to close basis is in a Consolidation.
  11. March Month is typically a Consolidation but with huge Volatility.
  12. Dow Future down but Nasdaq Future up.
  13. Covid cases increasing rapidly in India.
  14. Maharashtra seems to be the worst effected.
  15. Many states starting to put restrictions and having mini lockdowns.
  16. Market as of now isn't reacting to such news.
  17. FII's buying spree is on.
  18. On Friday , both FII's & DII's bought and were net buyers.
  19. FIIs have bought for Rs 7500 crores in last one week.
  20. We have only 4 trading sessions left for March Expiry and Expecting this to be very Volatile.
  21. But on a close to close basis I don't expect Nifty & Bank Nifty make big move.
  22. Nifty might Trade between 14620 to 14880 today.


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1. U.S Markets closed lower yesterday.  2. Right now , U.S Futures are higher. 3. SGX Nifty is Flat. 4. Asian markets are mixed. 5. Yesterday Nifty tried to retest 17300. 6. There was a rejection from this level and Nifty broke 17k. 7. Exactly as we has hinted in the blog yesterday. 8. U.S Markets when I slept yesterday were down 700 points. 9. Today Morning I saw there was a sharp recovery from the lows and they have closed just 270 points lower. 10. This recovery from the lows cannot be termed as bottom yet. 11. Trends don't change so easily and bottoms take time to be made. 12. 16800 is the next major support now. 13. All he'll would break loose once markets break 16800. 14. We might consolidate now for a few trading sessions. 15. Before there's a bigger move in the markets. 16. 17000 is the first support and next major support at 16800. 17. U.S VIX has crossed 25 now. 18. India VIX is close to 17 now. 19. The Volatility which we are having now it seems like