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Pre - Market Analysis (17th November 2022)

  1. U.S Markets closed lower yesterday. 
  2. Asian markets are mostly mixed right now.
  3. SGX Nifty is flat.
  4. Nifty is likely to have a flat opening today.
  5. Since last many days , Nifty is opening flat.
  6. If I'm not wrong , today will be the fourth straight day of flat opening.
  7. Yesterday we had the U.S Sales data.
  8. The data wasn't much favorable to the markets.
  9. So it led to a bit of profit booking Yesterday. 
  10. Hdfc twins which were the joker of packs around 3 months ago.
  11. All the other stocks were flying apart from these two.
  12. These two giants have finally woke up now.
  13. All the large cap stocks are catching up now.
  14. Yesterday it was the bank Nifty which outperformed the market.
  15. Nifty was flat throughout the day but bank Nifty kept moving higher.
  16. 18200 is a strong support for Nifty for positional basis.
  17. 42000 is a strong support for bank Nifty.
  18. Resistance for Nifty would come close to 18500.
  19. If this gets taken out then second resistance near all time high.
  20. Currently I have 18000 PE sell 18700 CE sell for monthly expiry.
  21. These two combined I've sold 100rs few days ago.
  22. I'm just trailing these positions.
  23. For today's expiry I've sold 18250 PE Yesterday which is likely to go zero today.
  24. I'm taking more Bullish bets than bearish ones as of now.
  25. Nifty might trade between 18300 to 18500 today.
  26. stockmarketadvisory.in

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