Daily market report 01/03/2023

 Pre market report 01/03/2023

1) Dow closes more than 200 points down 

2)  Nifty is also down but found support 

3) Nifty Made two hammer candle sticks . Expecting some pull up today 

4) Nifty may go upwards but it can be temprory also 

5) Adani stocks performed better yesterday 

6) Last two days nifty opens lower and covers up 50% over the day 

7) India Vix is 14 . There is no immediate market crash can happen 

8) Before the market crash normally the India Vix moves up much above 15 . If you check before covid crash India Vix value you will understand 

9) China covid news suddenly disappeared . We have become news based . Suddenly some news comes and market reacts then covers up in couple of days 

10) As said earlier posts Nifty is consolidating more than a year 

11) Seems many people got frustrated . There are many new entries of Young people who wants to make quick money entered the market after covid 

12) They also used 2nd and 3rd covid waves . As they are newcomers and earned a very good profit they thought market will be always like this 

13) If you are there in market for more than 5 years then you will understand , This is a cycle . The history repeats itself .

14 ) This kind of consolidation is not new to the market . Similar kind of consolidation happened in 2016 . Then Brexit came . Suddenly it went down and recovered . So we need to be little cautious while investing thats all 

15) It is always better to keep some back up cash in case if market correction happens . Because we do not know when the market will correct in this situation 

16 ) Last 5 days FII are keep on selling . yesteday they sold for 4559 crores . In february they sold for 11000 crores and in January it is 41465 crores . For the market to go up they should start buying 

17 ) Nifty call option finds more open interest at 17400 . It shows that there is a scope of 100 points up