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Pre - Market Analysis (8th December 2022)


  1. U.S Markets closed slightly lower yesterday. 
  2. Asian markets are mixed.
  3. Dow futures are slightly lower right now.
  4. SGX Nifty is trading flat.
  5. Yesterday it was all about RBI expiry.
  6. It was expected that RBI would raise repo rate by 35 basis points.
  7. Exactly the same thing happened.
  8. RBI as expected raised repo rate by 35 basis points.
  9. Market went through a short covering rally as soon as this was announced. 
  10. Nifty recovered 60-80 Points.
  11. Later on when RBI commentary began it was mostly on the Hawkish side.
  12. Once 18600 got broken market inched lower.
  13. Last 30 minutes yesterday was highly Volatile.
  14. Nifty had a short covering rally and crossed 18600 only crashing 80 points from there.
  15. So now the trend has reversed.
  16. 18500 is the next support now.
  17. 20 DMA is around 18440.
  18. As I said few days ago , buying near 20 DMA is advisable for trend followers.
  19. Now , market is giving a nice entry level.
  20. From 18900 to 18550 , Nifty reversed quick and sharp.
  21. Nifty might trade between 18450 to 18700 today.
  22. stockmarketadvisory.in

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