Pre-Market Report 04 May 2022

 

Fact.

1.       FII Selling – 1853 Cr, DII Buying – 1951 Cr.

2.       Weekly Max Pain – 17050, PCR – 0.77.

3.       FII Long Positions  - 38.8 %

4.       Candle Type – Bullish

5.       Nifty Future contract –  4.6 % Long Buildup.

6.       Considering the FED meeting regarding the Rate hike, the US market was hugely volatile but yesterday, relatively the US market was less volatile and stable. Moreover, the SP500 ViX also crashed by about 10 %. Both these facts are indications of a stable market.

7.       Currently, the US future is positively flat.

8.       The Asian market is also flat.

9.       All the markets are waiting for the FED meeting outcome

10.   SGX Nifty is also an indication of the opening where we closed on Monday.

 

Conclusion.

All the above suggest a flat or 50-60 point gap-up and then a rally may come because we closed at the highest point on Monday.

So, the trading range must be between 17000 and 17375.

Disclaimer: This blog is just for educational purposes and it represents my view. Don’t Consider it as advice as I am not SEBI Registered research analyst or advisor. Before taking trade do your research or consult your financial advisor. I am not responsible for any profit or loss that arises due to trading or investing.