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Pre - Market Analysis (3rd June 2022)

  1. U.S Markets closed higher Yesterday.
  2. As soon as U.S Markets opened it fell 300 points.
  3. Then market rallied from -300 to +450.
  4. U.S VIX crashed 5% yesterday.
  5. SGX nifty is indicating almost 200 point gap up today.
  6. SGX nifty is close to 16800 today.
  7. Market is likely to open close to resistance levels today.
  8. 16400 to 16800 is the range in which we are trading this weekly expiry.
  9. So if 16800 is crossed 17000 and 17200 open up 
  10. 16400 is a super strong support now.
  11. Yesterday Nifty opened close to lower range and today it's opening at higher range.
  12. So 400 point move in just 1 trading session.
  13. Yesterday expiry as expected was quite rangebound.
  14. Suddenly now everything seems to be okay.
  15. In May month it was world coming to an end when you look at stock market
  16. June has been a bullish beginning so far.
  17. Im not confident of chasing this gap up at open.
  18. Will wait for a retest of yesterday's low near 16650 or close to 16700 and will look to build longs.
  19. Today we also have U.S jobs data so again that effect will be seen on Monday.
  20. Better not to carry positions over the weekend.
  21. Nifty might Trade between 16650 to 16850 today.


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