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Pre - Market Analysis (24th Feb 2022)

  1. U.S Markets closed lower yesterday.
  2. Right now Dow futures are lower.
  3. Asian markets are mostly lower 
  4. SGX Nifty is near 16700.
  5. Suggesting a big gap down for the day.
  6. Today we are about to open below 200 DMA of 16850 on Nifty.
  7. 16800-16850 is the 200 DMA which has been acting as support since many trading sessions.
  8. Today is monthly expiry and we are straight away opening below 200 DMA.
  9. Russia is about to fully invade Ukraine and this has led to collapse in Global Markets 
  10. This is effecting us as well.
  11. Yesterday was a very rangebound session between 17100 to 17200.
  12. In last 30 mins Nifty broke 17100 and closed at lowest point of the day.
  13. Later the overnight selling caused big gap down for the day.
  14. Todays first hour low would be important.
  15. If we break first hour low then 16400 is on the cards
  16. Next support is at 16400 only.
  17. Once we sustain below 16800.
  18. Downside expansion has begun and where would it stop is difficult to say.
  19. As of now 16400 is the coming support and things could get worse if we break 16400.
  20. Also we have Monthly expiry today so Volatility would be highest due to the same.
  21. Nifty might Trade between 16400 to 17000 today.


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