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Pre - Market Analysis (7th Jan 2022)

  1. U.S Markets closed mixed Yesterday.
  2. U.S Markets did consolidate yesterday but with huge Volatility.
  3. Consolidation with huge Volatility indicates either a bottom or a top is made in the short term.
  4. Either of these 2 , we will get to know in coming days.
  5. Right now U.S Futures are higher.
  6. Asian markets are mixed.
  7. SGX Nifty is flat at 17820.
  8. Yesterday was a volatile session in our Markets as well.
  9. Nifty and Bank Nifty went to 17650 and 37000 respectively.
  10. DII's supported the Markets at lower levels to provide some recovery.
  11. IT Index has been the laggard.
  12. It's down 4-5% in last 3 sessions.
  13. Bank Nifty has been outperforming yesterday.
  14. Yesterday as well Bank Nifty was down 0.3% but Nifty closed about a percent lower.
  15. This is because of IT Stocks underperformance.
  16. Market is Bullish , yesterday I feel was a Dip in the ongoing uptrend.
  17. FII's sold for 2000 crores yesterday , we have to see whether its a one off selling or they continue to sell in such big numbers.
  18. 17600 is a strong support for Positional traders.
  19. As long as this holds on Nifty we are in an uptrend.
  20. Nifty might Trade between 17700 to 17950 today.
  21. Expect some short covering rally in IT Stocks ahead of results as they have fallen too much in short term.


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Pre - Market Analysis (18th April 2022)

U.S Markets closed lower on Thursday. Asian markets are all lower. Dow futures are lower right now. SGX Nifty is down 250 points. Indicating a huge gap down at the open. Reason is the Global markets underperformance plus not so good corporate results. Infosys has disappointed and missed earnings by street estimates. Infy ADR was down 9% in last 2 trading sessions in U.S Hdfc bank also missed earnings but asset quality has been improved. Today we can expect huge gap down openimg in infy. Hdfc bank has limited downside left because it has already fallen a lot after the merger news. 17150-17200 is a strong support on Nifty and this is where 200 DMA kicks in. If you are a Bull this is a large support area. Markets are oversold and this offers a good opportunity to go long. Nect support comes in at 17k. If global markets keep declining then no support would work. Bank Nifty 200 DMA kicks in at 36800. Bank Nifty looks much stronger than Nifty currently as IT isn't included in

Pre - Market Analysis (11th April 2022)

U.S Markets closed mixed on Friday. Dow Jones closed slightly higher. S&P 500 was flat and Nasdaq is very weak. Right now , Dow futures are lower. SGX Nifty is down 100 points. So we are in for a gap down opening today. Friday was a quite interesting day. As expected , RBI policy was a status quo. Nifty broke Thursday low of 17640 and traded below for quite some time. And then for a short squeeze. All the shorts were trapped and we had a big rally. Most importantly , India VIX was down 7% on Friday. I expect markets to consolidate between 17600 to 18100 for a while. I do not see a reason to be excessively bearish now. Markets went from 17700 to 18100 because of hdfc twins. And then crashed to 17600 because of these both stocks. These both stocks have given up all of their gains and are back to Pre merger levels. There is very limited downside now for these stocks and expecting these stocks to bottom out soon 17500 to 17600 is a strong buy zone on Nifty. Also earnings se