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Pre - Market Analysis (5th April 2023)


1. U.S Markets closed lower yesterday. 
2. Right now , U.S Futures are trading mixed.
3. SGX Nifty is indicating a gap down opening of 30-40 Points.
4. Asian Markets are mostly mixed.
5. On Monday the markets were in a Consolidation Mode for the first half.
6. In the second half Markets gathered some steam and closed at the highest point of the day.
7. Friday and Monday the markets consecutively closed at the highest point of the day.
8. This indicates a Bullish uptrend in the markets.
9. India VIX for most part of the day was trading higher.
10. During the second half VIX Crashed and closed negative. 
11. Premiums for the options are ultra now.
12. VIX is trading at multi year low.
13. Market breadth has also been positive since last 2 trading sessions. 
14. Somewhere I'm not much convinced with the rally.
15. This is more of a short covering rally than a trend reversal. 
16. There will be days where markets will have big rallies and it would feel like good days are back.
17. Let me tell you that trends don't change so easily.
18. Gold and Silver prices are trading at all time highs.
19. This is also a concern for equity markets as money is being shifted to other asset classes.
20. Markets are definitely above swing high and all Technicals are showing green.
21. One also has to remember that since last year markets have been in a reversal mode.
22. Trending traders are chopped off both sides. 
23. The larger trend continues to be bearish and we are just witnessing minor pullback rallies in between.
24. Nifty might trade between 17200 to 17500 today.
25. stockmarketadvisory.in






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