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Pre - Market Analysis (25th November 2022)

  1. U.S Markets closed slightly lower yesterday. 
  2. Right now Dow futures are slightly lower.
  3. SGX Nifty is down 40-50 points.
  4. Nifty is likely to have a gap down opening today.
  5. Yesterday was a terrific expiry for Bulls.
  6. Usually on monthly expiry big moves are expected.
  7. As too many contracts expire on the same day.
  8. Yesterday it was the same story.
  9. As soon as nifty broke out of 18400 , there was a huge rally.
  10. In just 30 minutes nifty shot up 70-80 points.
  11. Now the Nifty future premium for December series is too high.
  12. Nifty future is trading near 18600-18650.
  13. Such huge premium indicates excessive bullishness in the markets.
  14. Yesterday sensex and bank nifty hit all time highs.
  15. Now , 18000 is a very strong support.
  16. We might have resistance at 18600 nifty spot.
  17. Once this is taken out then next resistance is only at 19k.
  18. The trend is bullish and markets are Bullish too.
  19. Nifty might trade between 18350 -18600 today.
  20. stockmarketadvisory.in

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