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Pre - Market Analysis (16th August 2022)

  1. U.S Markets closed higher on Friday and Monday.
  2. We had a holiday Yesterday but U.S Markets were open.
  3. SGX Nifty right now is above 17800.
  4. 17800 is a very important resistance zone for the markets.
  5. Closing above this would mean 18000 is on the way.
  6. Anyways my advice would be not to chase this gap up.
  7. Markets would provide you opportunity to enter on dips 
  8. Asian markets are higher.
  9. 17500 PE has the highest open interest in monthly options 
  10. 18000 CE has the highest open interest among call options.
  11. We have 8 trading sessions left and this seems to be the range for now.
  12. 17500 to 18000 is the range for now and expect markets to consolidate In this range for a while.
  13. However the way markets are moving I won't be surprised if market tries to break 18000.
  14. There was an unexpected news related to Rakesh Jhunjhunwala 's demice.
  15. The stocks in which he had a large amount of holdings could be under pressure today.
  16. Just because of confidence shake out amoung people.
  17. Bank Nifty on the other hand looks super Bullish and there's no stopping it 
  18. ICICI Bank has already hit fresh all time high.
  19. India VIX is below 18 now 
  20. Options premiums are too low as there is limited time left for expiry.
  21. Nifty might Trade between 17680 to 17880 today.


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