Pre - Market Analysis (24th Jan 2023)

1. U.S Markets closed higher Yesterday.

2. Right now , U.S Markets are mixed.

3. Asian markets are higher.

4. SGX Nifty is up 90-100 Points.

5. Today we are likely to open close to upper end of the trading range.

6. 18200-18250 is the higher end of the range.

7. So going long chasing the gap up may not be advisable.

8. Today we also have FIN nifty expiry.

9. This could cause Volatility.

10. Markets going with high optimism into the budget isn't good .

11. Any disappointment would lead to a big correction as well.

12. I would go long only when 18300 spot is crossed on Nifty.

13. Until then I would look to short nifty close to 18250 will a stop of 18300 or so.

14. Axis Bank has come up with spectacular numbers yesterday.

15. Thse banking stocks results have been next level.

16. All the Books have been cleaned and NPA's are down to 2%.

17. I remember during my initial years of stock market the NPA Percentage was 6-8% average for majority of Banks.

18. 18000 to 18300 is the range for nifty now.

19. Following the trend is advisable only after any of the level gets taken out.

20. Nifty might trade between 18000 to 18300 today.

21. stockmarketadvisory.in

Comments

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