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Pre - Market Analysis (2nd June 2022)

  1. U.S Markets closed slightly lower yesterday.
  2. Right now Dow Futures are mildly Positive.
  3. Asian markets are mixed.
  4. SGX nifty is down 30-40 points.
  5. Yesterday in Spite of SGX nifty showing a bigger gap up we opened slightly negative.
  6. Throughout the first half until 1 pm we traded almost flat.
  7. Then after 1 pm there was a huge selling.
  8. Nifty fell to 16450.
  9. Last 30 mins there was a meaningful recovery of 50-70 points.
  10. It could be said as a rangebound consolidation with good amount of volatility.
  11. As I've kept on saying 16400 to 16800 is the range for Nifty.
  12. Nifty is trading within this range in last 3 trading sessions.
  13. Today we are likely to expire within this range itself.
  14. Markets stabilizing after Mayhem in May is in itself a positive aspect.
  15. Yesterday U.S VIX again closed lower.
  16. It's now at 26 .
  17. Below 25 is a comfortable position for U.S VIX.
  18. Below 20 is a comfortable position for India VIX.
  19. Look to buy Nifty near 16450-16400 with a stoploss of 16350 and look to sell near 16700-16650 with a stoploss of 16750.
  20. The only way to make money out of ranging markets is trading the boundaries.
  21. Nifty might Trade between 16400-16600 today.
  22. stockmarketadvisory.in

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