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Buy the Gap down? (18th Sep 2023)

1. U.S Markets closed lower on Friday.
2. All the indices closed almost a percent lower on Friday.
3. U.S VIX jumped 7%.
4. This was due to Fed rate hike fears citing Inflation concerns.
5. Right now U.S Futures are higher.
6. Asian markets are higher.
7. Gift Nifty is indicating a gap down of 40-50 points.
8. Nifty has shot up 1000 points in last 2 weeks.
9. This is the biggest rally by far.
10. The special thing about this rally is it was against the Global cues.
11. Everything was against India.
12. Crude prices up , Currency Depreciating,  Interest rates up , Global Inflation up.
13. FII figures in Negative , FII flows drying up etc
14. Even after all these negatives the markets kept scaling fresh highs.
15. This what makes this rally more special.
16. For weekly purpose , 20100 PE has the highest open interest and 20200 CE has the highest open Interest among Call Options.
17. We can expect a consolidation until Nifty trades within this range.
18. Bank Nifty range is in between 46000 to 46400.
19. 46000 PE has the highest open interest and 46400 is the all time high for Bank Nifty. 
20. Nifty might trade between 20100 to 20300 today.


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Pre - Market Analysis (3rd November 2022)

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