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Pre - Market Analysis (3rd Jan 2023)

1. U.S Markets were shut yesterday. 
2. In U.S if an occasion falls on Sunday the next day is a holiday.
3. As new Year was on Sunday there was a holiday the next day.
4. Right now Dow futures are slightly lower.
5. Asian markets are mostly mixed.
6. SGX Nifty is down 40- 50 Points.
7. Yesterday it was a ranging day for the markets.
8. Nifty traded within the range of 18100 to 18200.
9. It was a flattish day.
10. India VIX also fell yesterday. 
11. Yesterday the volumes were also quite low.
12. FII's were on a holiday hence the volumes were low.
13. There is some news regarding Mama Earth IPO.
14. The IPO listing is expected to be at a valuation of 24000 crores as per reports.
15. Annual profits of the company are around 22 crores.
16. This makes company list 1000X of its profits.
17. I'm very depressed when new age start ups try to play the valuation game instead of playing value game.
18. All the Start up now a days just run behind valuations without creating a proper substance.
19. Nifty might trade between 18000 to 18300 today.
20. stockmarketadvisory.in



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