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Pre - Market Analysis (28th April 2022)

  1. U.S Markets closed mildly positive yesterday.
  2. Right now Dow futures are higher.
  3. It was a high volatile session yesterday in U.S
  4. Dow was up 400 at open , then it fell 600 points and then again up 600 and finally closed slightly positive.
  5. Asian markets are higher.
  6. SGX nifty is up 30-40 points.
  7. Today we have the monthly expiry for F&O contracts.
  8. Nifty is trading in a narrow range of 16900 and 17200.
  9. Within this range , Nifty is in a consolidation.
  10. Going significantly higher post a level would lead to a trend.
  11. Coming first week of May is a 4 day week.
  12. Tuesday is a holiday on Account of EID.
  13. Also Tuesday we will be starting Fed meeting in U.S
  14. Hence , plan your trades accordingly.
  15. 16800 -17000 has emerged as a strong support numerous number of occasions.
  16. Nasdaq is at its 52 week lows and that's what causing downfall in IT stocks.
  17. Facebook has just reported its numbers and it has beaten street expectations.
  18. Will this cause a positive sentiment from here on?
  19. Only time will say.
  20. Purely from a risk reward point of view I don't see shorting the markets now.
  21. We are near the lower band of the range.
  22. Going long with a stoploss of 16800 is a good trade now.
  23. Same on Bank Nifty with a stoploss of 35k positionally.
  24. Nifty might Trade between 17000 to 17200 today.


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