Pre-Market Report 08 July 2022

Pre-Market Report 08 July 2022

Fact.

1.       FII Selling – 925 Cr, DII Buying – 981Cr.

2.       FII Long Positions  - 25.5 %

3.       Candle Type – Bullish

4.       Nifty Future contract –  -6.7 %, Short Covering

5.       Last night, all the three US indices ended in the green, but currently, the US future is positively flat.

6.       The Asian markets are well in the green.

7.       The commodity markets are cooling down which is a positive sign for the equity market.

8.       SGX Nifty is indicating the about 150 point gap up opening.

 

Conclusion.

After a long time, the crude oil slipped below 100 Dollars which is positive for the market. FII is also reducing the pace of selling. These two factors are suggesting a positive market for today and onwards.

Weekly PCR is also indicating a positive market. So we may expect a positive to flat nifty today in the range of 16000 to 16250.

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.