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Pre - Market Analysis (9th November 2021)

  1. U.S Markets closed higher Yesterday.
  2. Right now Dow futures and Asian Markets are lower.
  3. SGX Nifty is at 18100.
  4. Volatility intensifies in November.
  5. Yesterday Nifty opened with a huge gap up , fell 150 points from day high.
  6. Took support near 17850 and then rallied 300 points.
  7. This is a three way move on a particular trading day.
  8. 18000 CE had the highest open interest until yesterday.
  9. More than 1 crore contracts were written for 18000 CE.
  10. Naturally all these traders had to run for cover as soon as we broke out of 18k.
  11. Currently the highest open interest has now been shifted to 17900 PE in weekly options.
  12. 18200 CE has the next highest open interest.
  13. 17900 to 18200 is Likely to be the range for the current expiry.
  14. IndusInd Bank was the stock in focus yesterday.
  15. Many loans were transferred to inactive accounts due to technical glitch amounting nearly to 34000 crores.
  16. This led to a 10% fall in no time for IndusInd Bank.
  17. This was the reason for underperformance of Bank Nifty yesterday.
  18. Market is in a consolidation but this is happening with heavy volatility.
  19. My range for November month is 17600 to 18600 for Nifty.
  20. Would sell calls and puts below and above this range only unless I find some clear big move.
  21. Nifty might Trade between 17900 to 18200 today.


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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.