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Pre - Market Analysis (7th April 2022)

  1. U.S Markets closed lower Yesterday.
  2. Dow futures right now are slightly lower.
  3. Asian markets are mixed.
  4. SGX Nifty is down 1000-120 points.
  5. We have yet another gap down today.
  6. U.S Markets are going through a correction phase due to increase in inflation and fed corcerns.
  7. Yesterday Fed released its minutes and pointed out almost 1.5% interest rate hike combined throughout the year.
  8. This is making U.S markets jittery.
  9. Due to which we are witnessing gap downs.
  10. Brent crude fell 5% yesterday and that's a good news for us.
  11. I get the sense that this is just a passing correction.
  12. 17700 is a very strong support.
  13. Until we break 17700 this Market is a long.
  14. Once Market absorbs all this news , it will be up in double speed.
  15. We might consolidate for some days near 17700-17650 levels and then start fresh upside.
  16. Stoploss for your long positions should be at 1760p on Nifty.
  17. 17800 PE & 17900 , 18000 CE added huge open interest.
  18. 17800 CE also has added some open interest.
  19. So today's expiry could likely be between 17700 to 17900.
  20. Bank Nifty has huge OI at 37500 PE & 38000 CE.
  21. It's likely to consolidate between this range today.
  22. Nifty might Trade between 17700 to 17900 today.
  23. stockmarketadvisory.in

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