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Pre - Market Report (21st May 2020)

  1. US markets closed 2% higher Yesterday.
  2. Asian markets are in Green but off their highs. Some markets are turning negative.
  3. SGX Nifty is down by about 50 Points and Trading near 9000.
  4. Yesterday in first half Nifty was Trading between 8900 to 9000.
  5. Second half of closing we Witnessed a short covering rally towards 9100 but this level Couldn't be broken.
  6. FII's were net sellers Yesterday and DII's were net Buyers.
  7. India VIX & U.S VIX are declining Contineously.
  8. This shows that the fear is lowering amount the Stock Market Participants.
  9. Financial Stocks Witnessed a short covering rally Yesterday.
  10. Bajaj Finance also ended 5% higher after it's results .
  11. 9100 CE has the highest open interest today for the Weekly Expiry.
  12. Once this level is taken out we can witness another rally of 50-60 Points on the Nifty.
  13. Until then not Expecting any Big moves for Markets today.
  14. First half is likely to be in a Consolidating phase.
  15. Government is Slowly opening up Airlines , Raliways in a phased manner.
  16. Restarting of Economy is the biggest STIMULUS for our Economy.
  17. Sold 9300 , 9400 CE also Added 9250 CE Yesterday.
  18. Sold 8800, 8700 , 8600 PE .
  19. All these Trades are of Weekly Expiry and are likely to open at single Digits today.
  20. Sold 16800 Bank Nifty PE & also 18500 CE.
  21. IT Stocks are looking weak & will continue to face weakness this Expiry.
  22. Nifty might trade between 8950 to 9150.
  23. Bank Nifty might trade between 17300 to 18000.
  24. stockmarketadvisory.in

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