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Pre - Market Analysis (31st May 2022)

  1. U.S Markets were shut yesterday.
  2. Right now Dow Futures are lower.
  3. Asian markets are slightly lower.
  4. SGX nifty is down 50 points close to 16600.
  5. We have rallied from 15900 to 16700 yesterday.
  6. All in a matter of 3 trading sessions.
  7. 15900 was the expiry low and 16700 was Yesterday's high.
  8. This rally is majorly due to short covering across the Globe.
  9. Yesterday India VIX closed below 20.
  10. Options IV's are very low for this month.
  11. Indicates that this is going to be a sideways / range bound month with less big moves.
  12. Yesterday for the first time after almost 1.5 months FII's have turned buyers.
  13. Yesterday they have bought for 500+ crores.
  14. This is indeed a good news for the Bulls but we have to see whether it is a continued buying or just a one off day.
  15. Anyways as long as Global markets are strong we do not have to worry about FII selling.
  16. 16400 is a strong support now for nifty as we decisively closed above the same yesterday.
  17. Next resistance is at 16800.
  18. This is the range you gotta work with for the current time being.
  19. Bank Nifty underperformed Nifty yesterday.
  20. This is natural as Bank Nifty outperformed in May month.
  21. Now it is a prone to profit taking.
  22. Nifty is likely to outperform bank Nifty as IT index starts to fire.
  23. Nifty might Trade between 16500 to 16720 today.


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Pre - Market Analysis (18th April 2022)

U.S Markets closed lower on Thursday. Asian markets are all lower. Dow futures are lower right now. SGX Nifty is down 250 points. Indicating a huge gap down at the open. Reason is the Global markets underperformance plus not so good corporate results. Infosys has disappointed and missed earnings by street estimates. Infy ADR was down 9% in last 2 trading sessions in U.S Hdfc bank also missed earnings but asset quality has been improved. Today we can expect huge gap down openimg in infy. Hdfc bank has limited downside left because it has already fallen a lot after the merger news. 17150-17200 is a strong support on Nifty and this is where 200 DMA kicks in. If you are a Bull this is a large support area. Markets are oversold and this offers a good opportunity to go long. Nect support comes in at 17k. If global markets keep declining then no support would work. Bank Nifty 200 DMA kicks in at 36800. Bank Nifty looks much stronger than Nifty currently as IT isn't included in

Pre - Market Analysis (11th April 2022)

U.S Markets closed mixed on Friday. Dow Jones closed slightly higher. S&P 500 was flat and Nasdaq is very weak. Right now , Dow futures are lower. SGX Nifty is down 100 points. So we are in for a gap down opening today. Friday was a quite interesting day. As expected , RBI policy was a status quo. Nifty broke Thursday low of 17640 and traded below for quite some time. And then for a short squeeze. All the shorts were trapped and we had a big rally. Most importantly , India VIX was down 7% on Friday. I expect markets to consolidate between 17600 to 18100 for a while. I do not see a reason to be excessively bearish now. Markets went from 17700 to 18100 because of hdfc twins. And then crashed to 17600 because of these both stocks. These both stocks have given up all of their gains and are back to Pre merger levels. There is very limited downside now for these stocks and expecting these stocks to bottom out soon 17500 to 17600 is a strong buy zone on Nifty. Also earnings se