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Pre - Market Analysis (31st October 2022)


  1. U.S Markets closed higher on Friday.
  2. Dow Jones closed 1000 points higher.
  3. It was a huge short covering rally.
  4. U.S markets have now recovered more than 10% from their 52 week lows.
  5. This is a great recovery considering global cues.
  6. Right now Dow futures are slightly lower
  7. SGX Nifty was above 18k over the weekend.
  8. From last 3 trading sessions , SGX Nifty showed an opening above 17900.
  9. But on all the occasions we have opened close to 17800.
  10. Will we open today exactly what SGX Nifty has been suggesting.
  11. 18000 would be a resistance for this expiry.
  12. Aggressive calls have been written plus it's a round number.
  13. Round number acts as resistances / supports.
  14. Bank Nifty was outperforming for whole of October expiry.
  15. Last 2 trading sessions Bank Nifty has been witnessing serious underperformance.
  16. This is dragging Nifty too.
  17. Reliance is keeping Nifty in check.
  18. If we open below 17800 today and cross it during the day then we would be heading towards 18k.
  19. The pace of markets has been reduced considerably.
  20. Markets have been trading in a narrow range in Intraday.
  21. Nifty might Trade between 17700 to 18000 today.
  22. stockmarketadvisory.in

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