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Pre - Market Analysis (11th April 2022)

  1. U.S Markets closed mixed on Friday.
  2. Dow Jones closed slightly higher.
  3. S&P 500 was flat and Nasdaq is very weak.
  4. Right now , Dow futures are lower.
  5. SGX Nifty is down 100 points.
  6. So we are in for a gap down opening today.
  7. Friday was a quite interesting day.
  8. As expected , RBI policy was a status quo.
  9. Nifty broke Thursday low of 17640 and traded below for quite some time.
  10. And then for a short squeeze.
  11. All the shorts were trapped and we had a big rally.
  12. Most importantly , India VIX was down 7% on Friday.
  13. I expect markets to consolidate between 17600 to 18100 for a while.
  14. I do not see a reason to be excessively bearish now.
  15. Markets went from 17700 to 18100 because of hdfc twins.
  16. And then crashed to 17600 because of these both stocks.
  17. These both stocks have given up all of their gains and are back to Pre merger levels.
  18. There is very limited downside now for these stocks and expecting these stocks to bottom out soon
  19. 17500 to 17600 is a strong buy zone on Nifty.
  20. Also earnings season kicks off today.
  21. TCS is going to declare results most probably after Market hours .
  22. Time to accumulate longs with a stoploss of 17600 Intraday basis.
  23. Positional stoploss at 17500.
  24. Nifty might Trade between 17600 to 17900 today.


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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.