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Pre - Market Analysis (10th November 2022)

  1. U.S Markets closed lower yesterday.
  2. Asian markets are mostly lower.
  3. SGX Nifty is down 80-100 points.
  4. Today we are likely to open with a gap down.
  5. There are Mid term elections going on in U.S. 
  6. Due to which the Market is facing uncertainty. 
  7. Yesterday there were signs of sell off.
  8. Broader markets in the last hour got sold off heavily.
  9. Huge gap couldn't sustain Yesterday. 
  10. Throughout the day Nifty witnessed selling pressure.
  11. 18300 is going to be a the top for November series.
  12. This is a Bold call.
  13. As markets haven't been down a lot but I sense we won't be able to cross 18300 in November series.
  14. So currently I'm net short on markets with a stop-loss of 18350 on Nifty for closing basis.
  15. Bank Nifty outperformed Nifty Yesterday. 
  16. It's difficult to say how long will such outperformance last.
  17. This one way buying in Banking stocks cannot keep going as already banking stocks are now at a higher valuations.
  18. Nifty going up with the support of Bank Nifty is not a healthy sign because when the tide turns it will wipe all longs.
  19. 18000-18200 is expected to be the expiry range today.
  20. Bulls should be celebrating if we hold on to 18k today.
  21. I had called a short term bottom when Nifty was at 17k.
  22. Now I'm calling a short term top.
  23. This is how trading should be.
  24. Changing view quickly based on facts and observations. 
  25. Nifty might trade between 18000-18200 today.


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