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Pre - Market Analysis (18th Jan 2023)



1. U.S Markets closed lower yesterday. 
2. Right now , Dow futures are slightly lower.
3. Asian markets are mixed.
4. SGX Nifty is up 30-40 Points.
5. Yesterday markets traded with Volatility. 
6. Nifty in the first half crossed 18k.
7. In the Second half crashed 100 Points from the peak.
8. Only to close above 18k towards the end of the day.
9. As I've pointed out yesterday that Tuesdays trading has now become Volatile.
10. FIN Nifty options liquidity is rising and that is creating large swings.
11. Last 30 minutes there was a huge short covering in nifty.
12. 18000 Call sellers did unwound their Positions.
13. Nifty is Bullish as long as it's above 18k.
14. 18200-18250 Opens up on the Nifty now.
15. 17750 as mentioned earlier should be the low until Budget.
16. Yesterday there was a huge divergence between the Nifty and Bank Nifty.
17. Bank Nifty was in red most of the time.
18. Now as a trader I feel its time to contra bet.
19. Buy Banks and sell IT was the trend a couple of months ago 
20. Buy IT and sell Banks is the trend now.
21. Yes Banks have come up with great results but you shouldn't mess with the trend.
22. Bank Nifty has now become a sell on rally index.
23. Nifty might trade between 17900 to 18200 today.

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