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Pre - Market Analysis (7th Feb 2022)

  1. U.S Markets closed higher on Friday.
  2. Right now Dow Futures are lower.
  3. Asian markets are slightly lower.
  4. SGX Nifty is down 60-70 points 
  5. We are likely to open gap down near 17400-17420.
  6. On Friday Amazon , Pinterest declared great Results.
  7. But Dow Jones closed flat and other indices were slightly higher 
  8. RBI policy which was due today has been shifted to 8th Feb due to Public holiday today in Maharashtra on the demise of mrs.Lata Mangeshkar
  9. Inflation data in U.S is set to be out today.
  10. This is causing some jitter in global Markets.
  11. SBI & Bank of Baroda have declared great results over the weekend.
  12. Both stocks have been trading near 52 week high.
  13. On Friday both of them have cooled off.
  14. Today's price action would be interesting on Bank Nifty.
  15. Right now Market is lacking any trigger to make a significant move.
  16. 17400 to 17600 is the range for Nifty and we may chop around here 
  17. 17800 CE for weekly options added highest open interest.
  18. 17500 PE in monthly added huge open interest.
  19. Seems like Market may chop in between this range.
  20. I've turned Neutral from Bullish as we have broken 17500.
  21. Nifty might Trade between 17380 to 17600 today.


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