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Pre - Market Analysis (17th Jan 2023)


1. U.S Markets were shut yesterday. 
2. It was a Public holiday yesterday in the U.S
3. Right now , Dow futures are slightly lower.
3. Asian markets are mixed.
4. SGX Nifty is flat.
5. Headline since the inception of 2023 is the FII selling.
6. Last 2 weeks FII's have sold for 17000 crores.
7. Everybody expected that in 2022 the FII selling came to an end.
8. As FII's did sell close to 50,000 crores in 2022.
9. In 2023 the same sequence has began yet again.
10. There is no major negative news flow for which selling is going on in huge numbers.
11. Maybe they are expecting anything negative from budget.
12. HDFC Bank , one of the FII favorites was down yesterday even after such great numbers.
13. This shows that the sentiment is quite weak in the markets.
14. Today is Tuesday so we will be having FIN Nifty expiry.
15. Thus could add up to Volatility  
16. India VIX shot up more than 4% yesterday. 
17. Markers are retesting the major support close to 17800 
18. When a major support gets retested repeatedly it becomes weak and Ultimately gets broken.
19. Nifty might trade between 17750 to 18000 today.

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