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Pre - Market Analysis (31st October 2022)

  1. U.S Markets closed higher on Friday.
  2. Dow Jones closed 1000 points higher.
  3. It was a huge short covering rally.
  4. U.S markets have now recovered more than 10% from their 52 week lows.
  5. This is a great recovery considering global cues.
  6. Right now Dow futures are slightly lower
  7. SGX Nifty was above 18k over the weekend.
  8. From last 3 trading sessions , SGX Nifty showed an opening above 17900.
  9. But on all the occasions we have opened close to 17800.
  10. Will we open today exactly what SGX Nifty has been suggesting.
  11. 18000 would be a resistance for this expiry.
  12. Aggressive calls have been written plus it's a round number.
  13. Round number acts as resistances / supports.
  14. Bank Nifty was outperforming for whole of October expiry.
  15. Last 2 trading sessions Bank Nifty has been witnessing serious underperformance.
  16. This is dragging Nifty too.
  17. Reliance is keeping Nifty in check.
  18. If we open below 17800 today and cross it during the day then we would be heading towards 18k.
  19. The pace of markets has been reduced considerably.
  20. Markets have been trading in a narrow range in Intraday.
  21. Nifty might Trade between 17700 to 18000 today.


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Pre - Market Analysis (18th April 2022)

U.S Markets closed lower on Thursday. Asian markets are all lower. Dow futures are lower right now. SGX Nifty is down 250 points. Indicating a huge gap down at the open. Reason is the Global markets underperformance plus not so good corporate results. Infosys has disappointed and missed earnings by street estimates. Infy ADR was down 9% in last 2 trading sessions in U.S Hdfc bank also missed earnings but asset quality has been improved. Today we can expect huge gap down openimg in infy. Hdfc bank has limited downside left because it has already fallen a lot after the merger news. 17150-17200 is a strong support on Nifty and this is where 200 DMA kicks in. If you are a Bull this is a large support area. Markets are oversold and this offers a good opportunity to go long. Nect support comes in at 17k. If global markets keep declining then no support would work. Bank Nifty 200 DMA kicks in at 36800. Bank Nifty looks much stronger than Nifty currently as IT isn't included in

Pre - Market Analysis (11th April 2022)

U.S Markets closed mixed on Friday. Dow Jones closed slightly higher. S&P 500 was flat and Nasdaq is very weak. Right now , Dow futures are lower. SGX Nifty is down 100 points. So we are in for a gap down opening today. Friday was a quite interesting day. As expected , RBI policy was a status quo. Nifty broke Thursday low of 17640 and traded below for quite some time. And then for a short squeeze. All the shorts were trapped and we had a big rally. Most importantly , India VIX was down 7% on Friday. I expect markets to consolidate between 17600 to 18100 for a while. I do not see a reason to be excessively bearish now. Markets went from 17700 to 18100 because of hdfc twins. And then crashed to 17600 because of these both stocks. These both stocks have given up all of their gains and are back to Pre merger levels. There is very limited downside now for these stocks and expecting these stocks to bottom out soon 17500 to 17600 is a strong buy zone on Nifty. Also earnings se