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Pre -Market Analysis (7th October 2022)


  1. U.S Markets closed lower Yesterday.
  2. Right now , Dow futures are slightly higher.
  3. SGX Nifty is hovering around 17300.
  4. After a long time we are going to have a flat opening.
  5. Everyday we have been used to gap up / gap down openings.
  6. Yesterday I had advised not to chase gap up.
  7. Markets rallied more than 500 points 
  8. And another gap up doesn't have risk reward in our favour.
  9. Buying Opportunity was close to 17200-17250 and today we might get that opportunity.
  10. Upper resistance comes around 17500.
  11. Expect Nifty to consolidate within this range for a while 
  12. If 17200 breaks we would be retesting 17000.
  13. Bank Nifty has also recovered from lows.
  14. Financials are showing strength.
  15. Today is Friday and generally Friday's are highly volatile.
  16. FII's like to book profits on their positions so they might do some profit booking today in 2nd half.
  17. FII short Positions are between 75-80% now.
  18. This indicates a highly oversold territory.
  19. Nifty might Trade between 17180 to 17480 today
  20. stockmarketadvisory.in

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