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Pre - Market Analysis (8th Sep 2022)

  1. U.S Markets closed higher Yesterday.
  2. Right now Dow futures are flat.
  3. Asian Markets are mixed.
  4. SGX Nifty is up 100 points.
  5. Yesterday Nifty opened near 17500 and witnessed a bounce.
  6. 17500 to 17800 is the range for Nifty
  7. Almost on a daily basis now market is testing the lower and upper end of the range 
  8. Unless there is a clear indication of range being crossed we cannot expect a big move.
  9. Markets are likely to consolidate within this range itself.
  10. Bank Nifty is facing stiff resistance near 40k.
  11. This is a very important level for Bank nifty as it also acts as a psychological resistance.
  12. Can expect a one way rally only when 40k gets taken out.
  13. ITC is the stock to watch.
  14. 330 is the all time high for ITC.
  15. Above this there would be fireworks.
  16. Margin of safety is also quite high for ITC as it's a slow and steady stock.
  17. Stay away from Suzlon stock.
  18. There have been rumours about Adani investing into this company which has been clarified already.
  19. Adani has denied rumours.
  20. Still stock keeps going higher as people keep chasing it without applying logic.
  21. Nifty might Trade between 17500 to 17800 today.


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Pre - Market Analysis (13th October 2022)

U.S Markets closed mixed Yesterday. Dow futures are slightly higher right now  Asian Markets are mixed. Indian Markets are highly volatile between 16750 to 17400. Within this range markets have been making wild swings. Yesterday Nifty did retest 16950 and bounced back sharply from there. Yesterday it was a sharp recovery and Nifty closed at the highest point of the day. Today we have weekly expiry. Generally weekly expirys are volatile. 16950 to 17200 is the range for expiry. In case if we break any of the levels then we might get a larger move during the day  HDFC Bank will be delivering the results this weekend  Banking stocks are expected to deliver good results  Yesterday both the IIP and Inflation data came at negative. Inflation rose to 7.4% and Production also has recuced. So it's a double whammy on both fronts . Next leg of move will be decided by the results of the company's. Until then market is likely to stay sideways. Nifty might Trade between 16950 to 1

Pre - Market Analysis (3rd November 2022)

U.S Markets closed lower Yesterday. Right now Dow futures are higher. SGX Nifty is down 150 points. Asian markets are lower. Yesterday there was a Fed event in U.S Markets. General expectations were an increase of 75 basis points  Exactly the same happened and at 11.30 markets recovered sharply from lows  Then at 12 as Fed governer started speaking , it was a complete Hawkish statement. This induced lot of volatility and also selling pressure. U.S Markets closed at the low point of the day. Dow Jones fell 500 points. Although all this happened, U.S VIX didn't shot up It stayed flat. HDFC Bank ADR was down 2% yesterday. This could bring pressure in Bank Nifty. However I feel yesterday was an over reaction in U.S Markets. Markets should stabilize from today. 18000 is a strong support for the day. Previously as well many times Nifty went above 18k but couldn't sustain. Nifty might Trade between 17900 to 18150 today.