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Pre - Market Analysis (28th September 2021)

  1. U.S Markets were higher Yesterday.
  2. Asian Markets were higher too.
  3. Right now Dow futures are flat but Asian Markets are higher.
  4. SGX Nifty is Trading near 17900.
  5. Friday and Monday (Yesterday) markets opened gap up and the same has been sold into.
  6. Yesterday there was a decent gap up but Intraday Nifty tested 17800 and recovered from there.
  7. 17800 PE & 18000 CE has the highest open interest in options.
  8. Yesterday 17900CE also added some open interest.
  9. For some reason if Market does cross 17900 to 18000 then 100-200 Points rally is likely on the cards.
  10. India VIX shot up 8% Yesterday and closed above 18.
  11. Premiums have been rising for far away Options due to the same.
  12. Auto Stocks have performed reasonably well Yesterday.
  13. IT Index was down 3% and kept Nifty under pressure.
  14. Sectoral Rotation is common in Bull Markets.
  15. As the Economy is opening up money is being shifted from IT (Work from home) companies to Hotels , Holidays , movie stocks etc.
  16. Expect Nifty to trade within 17800 to 18000 today as well.
  17. We need some trigger to get out of this narrow range.
  18. Previously , whenever such range has developed Market has broke out on the higher side.
  19. In short term due to Expiry , Volatility there might be some erratic moves.
  20. Medium - Long term outlook is definitely bullish.
  21. Nifty might Trade between 17800 to 18000 today.


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