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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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