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Pre - Market Analysis (29th December 2022)

1. U.S Markets closed lower yesterday. 
2. Asian markets are mostly lower.
3. Dow futures are slightly lower right now.
4. SGX Nifty is down 70-80 Points.
5. The stock making headlines of daily basis is Tesla.
6. After Acquiring Twitter , Tesla is down 70%.
7. Tesla has got a Hugh weightage in Nasdaq.
8. So this stock is dragging the index lower.
9. We don't know when the bottom would be made in such stocks.
10. It's better not to chase falling knives unless we have a clarity.
11. Today we may open near 18050 or so as per SGX Indication.
12. If we open close to those levels , it's a good buying opportunity. 
13. 18000 PE has the highest open interest for today's expiry.
14. One can keep a stoploss of 17950 and go long near 18000.
15. I expect a rangebound move today between 18000 to 18200.
16. If we break any of these levels then we would have 70-100 points move very quickly.
17. This is less likely to happen unless Dow futures goes much lower or much higher while we trade today.
18. Trading the range is the view for the day.
19. Nifty might trade between 17950 to 1825p today.

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