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Pre - Market Analysis (3rd August 2022)

  1. U.S Markets closed lower Yesterday.
  2. Yesterday was 2nd consecutive day of negative closing in U.S
  3. Right now Dow futures are slightly higher.
  4. Asian markets are trading mixed.
  5. SGX Nifty is trading close to 17370.
  6. Today we are about to open flat / positive 
  7. Yesterday was an intense volatile trading session.
  8. Nifty and Bank Nifty have made huge swings yesterday.
  9. This is because of Global issues.
  10. U.S - Taiwan issue has been escalating from past 2 days.
  11. Due to this markets are jittery.
  12. India VIX inched 6% higher yesterday.
  13. 17200 PE has the highest open interest.
  14. Traders must have sold it near 30-40rs so 17200-17170 should be a very strong support for Nifty 
  15. Yesterday as well Nifty bounced back very close to 17200 itself.
  16. Bank Nifty is in a raging Bull Market of its own.
  17. SBI has rallied one way from 450 to 540 yesterday.
  18. 550 was the previous all time high of SBI.
  19. SBI has its results on Saturday and I am expecting Blockbuster numbers.
  20. Once 550 is taken out then there's no resistance on higher side.
  21. So please keep this stock on radar.
  22. Nifty might Trade between 17200 to 17450 today.


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