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Pre - Market Analysis (2nd June 2021)

  1. U.S Markets closed Flat Yesterday.
  2. U.S Markets aftee hitting all time highs a Month ago now seems to have gone into Consolidation.
  3. Right now U.S Futures are mindly higher.
  4. SGX Nifty is almost flat.
  5. Yesterday was a Volatile day for our Markets.
  6. Bank Nifty after being up 400 points fell 500 points then recovered 300 then finally closed 200 points lower.
  7. Due to this Nifty was also in a Consolidation phase yesterday.
  8. Today as well I expect the Consolidation to continue.
  9. 15600 , 15700 CE have added high open interest yesterday.
  10. Same was 15500 & 15400 PE have also added good amount of open interest.
  11. As of now the upside seems limited & there's not much downside too.
  12. Coming to Bank Nifty , 35500 CE has added high open interest and on the downside 35000 PE has added good open interest.
  13. We can expect Bank Nifty to be Volatile in this 500 point range.
  14. ITC has declared sub par results yesterday with a dividend of ₹5.75 per share.
  15. ITC has a good weight in Nifty so it will be interesting to see how it performs.
  16. Wednesdays are the penultimate days before expiry so they are likely to be quite Volatile.
  17. Any dip towards yesterday's low on Nifty near 15530-15550 is a buying opportunity.
  18. Same way on the Bank Nifty any dip close to 35200-35300 is a good buying opportunity.
  19. India VIX was slightly higher which shouldn't matter coz Nifty futures closed at significantly higher premium yesterday.
  20. Trade the range that's the plan for today and don't chase rallies nor short the falls.
  21. Take contra trades near the Boundaries.
  22. Nifty might Trade between 15520 to 15680 today.


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Pre - Market Analysis (13th October 2022)

U.S Markets closed mixed Yesterday. Dow futures are slightly higher right now  Asian Markets are mixed. Indian Markets are highly volatile between 16750 to 17400. Within this range markets have been making wild swings. Yesterday Nifty did retest 16950 and bounced back sharply from there. Yesterday it was a sharp recovery and Nifty closed at the highest point of the day. Today we have weekly expiry. Generally weekly expirys are volatile. 16950 to 17200 is the range for expiry. In case if we break any of the levels then we might get a larger move during the day  HDFC Bank will be delivering the results this weekend  Banking stocks are expected to deliver good results  Yesterday both the IIP and Inflation data came at negative. Inflation rose to 7.4% and Production also has recuced. So it's a double whammy on both fronts . Next leg of move will be decided by the results of the company's. Until then market is likely to stay sideways. Nifty might Trade between 16950 to 1

Pre - Market Analysis (3rd November 2022)

U.S Markets closed lower Yesterday. Right now Dow futures are higher. SGX Nifty is down 150 points. Asian markets are lower. Yesterday there was a Fed event in U.S Markets. General expectations were an increase of 75 basis points  Exactly the same happened and at 11.30 markets recovered sharply from lows  Then at 12 as Fed governer started speaking , it was a complete Hawkish statement. This induced lot of volatility and also selling pressure. U.S Markets closed at the low point of the day. Dow Jones fell 500 points. Although all this happened, U.S VIX didn't shot up It stayed flat. HDFC Bank ADR was down 2% yesterday. This could bring pressure in Bank Nifty. However I feel yesterday was an over reaction in U.S Markets. Markets should stabilize from today. 18000 is a strong support for the day. Previously as well many times Nifty went above 18k but couldn't sustain. Nifty might Trade between 17900 to 18150 today.