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Pre - Market Analysis (1st August 2022)

  1. U.S Markets closed higher on Friday.
  2. Asian markets are mixed.
  3. Dow futures are lower 
  4. SGX Nifty is higher by 90 points.
  5. Markets are on steroids.
  6. There is non stop rally from 16400.
  7. Markets made a low of 15200 and now have recovered 2000+ points.
  8. Nifty & Bank Nifty are above 200 DMA which indicates the strength in overall market.
  9. Markets rallying one way without consolidation in between is also not good 
  10. As and when the profit booking arrives it will be very severe.
  11. Fed event is out of the way now.
  12. Now this week we have RBI meet which will be in focus.
  13. China - Taiwan news is floating around which I sense won't have any major impact as of now.
  14. If this thing escalates then we have to see the impact.
  15. 17000 is a good support and now resitance will come around 17300-17400 on Nifty.
  16. Markets texture has now been changed.
  17. Previously it was a sell on rally market.
  18. Which had huge Volatility going.
  19. Now its a buy on dip phase.
  20. Nifty might Trade between 17100 to 17400 today.


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