Pre - Market Analysis (20th December 2022)

U.S Markets closed lower Yesterday.
Asian markets are mostly lower.
Dow futures are slightly higher right now.
SGX Nifty is down 30-40 Points.
Yesterday we had a sort of short covering rally in our Markets.
Markets found support near 18200 and recovered sharp.
Now the range for nifty is 18200 to 18500.
Nifty might consolidate in this range for a while.
November expiry was at 18500 for nifty.
December month we first moved towards 18900.
Then fell back to 18350.
Moved towards 18700 again
Fell all the way to 18200.
Now again close to 18500.
On a close to close basis , Markets having gone anywhere.
Expect December expiry somewhere close to November expiry.
It should be plus or minus a percent from 18500.
Bank Nifty on the other hand has been scaling fresh heights.
Nifty is finding momentum because of Bank Nifty.
Nifty might trade between 18300 to 1855p today.
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