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Pre - Market Analysis (6th April 2022)

  1. U.S Markets closed lower Yesterday.
  2. Dow futures right now are slightly lower.
  3. Asian markets are down.
  4. SGX Nifty is down 120-150 points.
  5. Yesterday after a long time we again had some Volatility.
  6. SGX Nifty indicated 100 point gap up yesterday but we opened flat.
  7. Then it was a see-saw ride throughout.
  8. Market at one point of time turned green but again it was sold into.
  9. Market closing at the lowest point of the day indicates it was a profit booking day.
  10. After a huge rally there will naturally be some profit booking visible.
  11. So now we might go into Consolidation phase before rallying further.
  12. 17800 is a strong support for Nifty.
  13. 37000 for bank Nifty.
  14. After such huge rally everybody is long on the markets.
  15. Such one sided consensus often takes the Market on the other side and that's what we are witnessing right now.
  16. Market would attract more shorts / consolidate and then get further steam.
  17. Until then we should look for opportunities to go long.
  18. This is still a buy on dip Market.
  19. We may easily correct 1-2% from here on Indices and it's perfectly fine.
  20. Yesterday both the hdfc group stocks faced selling pressure at open.
  21. Midcaps and small caps performed extremely well yesterday.
  22. This shows there is a concentrated selling on the index heavy weights.
  23. Nifty might Trade between 17750 to 18000 today.


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Pre - Market Analysis (13th October 2022)

U.S Markets closed mixed Yesterday. Dow futures are slightly higher right now  Asian Markets are mixed. Indian Markets are highly volatile between 16750 to 17400. Within this range markets have been making wild swings. Yesterday Nifty did retest 16950 and bounced back sharply from there. Yesterday it was a sharp recovery and Nifty closed at the highest point of the day. Today we have weekly expiry. Generally weekly expirys are volatile. 16950 to 17200 is the range for expiry. In case if we break any of the levels then we might get a larger move during the day  HDFC Bank will be delivering the results this weekend  Banking stocks are expected to deliver good results  Yesterday both the IIP and Inflation data came at negative. Inflation rose to 7.4% and Production also has recuced. So it's a double whammy on both fronts . Next leg of move will be decided by the results of the company's. Until then market is likely to stay sideways. Nifty might Trade between 16950 to 1

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.