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Pre - Market Analysis (7th Jan 2022)

  1. U.S Markets closed mixed Yesterday.
  2. U.S Markets did consolidate yesterday but with huge Volatility.
  3. Consolidation with huge Volatility indicates either a bottom or a top is made in the short term.
  4. Either of these 2 , we will get to know in coming days.
  5. Right now U.S Futures are higher.
  6. Asian markets are mixed.
  7. SGX Nifty is flat at 17820.
  8. Yesterday was a volatile session in our Markets as well.
  9. Nifty and Bank Nifty went to 17650 and 37000 respectively.
  10. DII's supported the Markets at lower levels to provide some recovery.
  11. IT Index has been the laggard.
  12. It's down 4-5% in last 3 sessions.
  13. Bank Nifty has been outperforming yesterday.
  14. Yesterday as well Bank Nifty was down 0.3% but Nifty closed about a percent lower.
  15. This is because of IT Stocks underperformance.
  16. Market is Bullish , yesterday I feel was a Dip in the ongoing uptrend.
  17. FII's sold for 2000 crores yesterday , we have to see whether its a one off selling or they continue to sell in such big numbers.
  18. 17600 is a strong support for Positional traders.
  19. As long as this holds on Nifty we are in an uptrend.
  20. Nifty might Trade between 17700 to 17950 today.
  21. Expect some short covering rally in IT Stocks ahead of results as they have fallen too much in short term.
  22. stockmarketadvisory.in

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