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Pre - Market Analysis (23rd August 2022)

  1. U.S Markets crashed Yesterday.
  2. Dow Jones closed lower by 600 points.
  3. Nasdaq was down more than 2%.
  4. U.S VIX rose 15% yesterday.
  5. These are not good signs for the Bulls.
  6. Asian markets are lower as well.
  7. SGX Nifty is down 100 Points.
  8. 17400 is level we are likely to open.
  9. Yesterday as soon as markets opened it kept going lower and lower 
  10. There were just short bounces of 20-30 points but the price action was fully against the Bulls.
  11. First Nifty paused near 17600 and this got taken out.
  12. Then 17500 got crushed out towards end of the day.
  13. Both FII's & DII's were net sellers Yesterday.
  14. Markets all over the World have rallied over 15% in just 1.5 months.
  15. Ahead of Fed meeting this week there seems to be huge profit booking.
  16. Price action gives an indication that market is pricing in some future expected negative news.
  17. Big players know it before us.
  18. 17500 PE had the highest open interest for this week.
  19. Today this is likely to break at open and we can expect more downfall.
  20. 17400 & 17200 are the next major supports for Nifty.
  21. Bank Nifty is even worse.
  22. When it goes up it rallies one way and same on the way down.
  23. Nifty might Trade between 17200 to 17550 today.


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