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Pre - Market Analysis ( 22nd June 2020)



  1. U.S Markets closed Flat on Friday.
  2. Asian Markets are Mixed with a Slightly Positive Bias.
  3. SGX Nifty is down 50 Points and Trading near 10150.
  4. On Friday , Large Cap Heavyweights performed Exceedingly well.
  5. Reliance alone contributed 65-70 Points rally on Nifty.
  6. Now , Reliance has doubled from the March lows in less than 3 Months.
  7. This is a Phenomenal rally in such a LargeCap stock like Reliance.
  8. This Weekend , Glenmark announced that it has come up with a Corona Virus Testing kit etc.
  9. Everybody is talking about Glenmark.
  10. Most of the Question in my Q&A session were on Glenmark Pharma.
  11. India China Border issue has been Stabilised now.
  12. Do not expect it to take the Center Stage in Markets now.
  13. On Friday , Honourable PM Modi spoke about our Economy.
  14. This led to more rally in our Markets.
  15. Large Cap Heavyweights are looking very Bullish on Charts and I expect the rally to continue further.
  16. The pace of rally might decrease now.
  17. Government has increased the prices of Petrol consecutively for past 15 days now.
  18. Crude Oil Prices inching higher is not good for our Economy.
  19. This is Still a buy on dip Market.
  20. In Spite of many Negative news we havent broken key support zones.
  21. This is a strong market that wants to give upwards.
  22. The idea should be to trade via Options and play for upside.
  23. 10300 is the Resistance for Nifty and once this gets taken out we may witness much higher levels.
  24. Nifty is likely to trade between 10080-10280 today.
  25. Bank Nifty is likely to trade between 21000-21740 today.
  26. Focus should be on Index Heavyweights, ( Reliance , Bajaj Twins , Icici Bank etc) they might Consolidate for some time now but will keep going in Uptrend.
  27. stockmarketadvisory.in

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