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Pre - Market Analysis ( 8th June 2020)

  1. US markets were up 4% on the Back of Excellent Job Data.
  2. Previous Month Job Data showed 8 Million Jobs lost but this Month the data came Positive.
  3. However there is some debate that Numbers were Incorrect and 5 Million Numbers was reported wrongly.
  4. How U.S Futures react to this news is going to be Interesting.
  5. Asian markets are mostly Trading higher.
  6. SGX Nifty is higher and trading around 10240.
  7. Friday , Nifty Tried to break 10200 quite a few times but could not.
  8. 10200 is an Important level on Nifty because on the Nifty when lower circuit was Witnessed on Nifty and markets recovered , 10200 was the high on Nifty for that day.
  9. On Thursday the Supreme Court News Came that they are considering to allow Loan waiver for Businesses.
  10. Bank Nifty fell 500 Points on this news but on Friday Bank Nifty recovered 800 Points.
  11. This shows that the Momentum towards Upside and dips are being bought in the Market.
  12. Reliance has bagged Fresh Investments of more than 10,000 Crores again this weekend.
  13. It has now gathered funds more than 1 lakh crore when whole world was in Lockdown.
  14. Reliance hit a Fresh 52 week high on Friday.
  15. A new Bull Market is likely to begin for our Markets & Reliance is going to the leader of Upcoming Bull Market.
  16. I won't be Surprised if Reliance goes to 2300-2400 in next 1 Year.
  17. SBI Results were not that Impressive but Stock closed 8% higher as Markets were Expecting high Negative news.
  18. Due to Short Covering stock Rallied more.
  19. If Nifty Sustains above 10200 then the next Target for Nifty would be 10350.
  20. If Nifty goes back into the Range of 10000 to 10200 then we might keep being Rangebound.
  21. FII's & DII's were net Buyers on Friday.
  22. Midcaps & Small Caps Bull Market is also Beginning.
  23. Make sure you Invest in good Quality Stocks.
  24. This Continues to remain a Strong "BUY ON DIP" market.
  25. Titan & Bajaj Auto are likely to Announce their results this week.
  26. Management commentary would be Interesting to watch out for.
  27. Bank Nifty is looking much Stronger Compared to Nifty on the back of SBI Results.
  28. Nifty Might Trade between 10150-10350 today.


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1. U.S Markets closed lower yesterday.  2. Right now , U.S Futures are higher. 3. SGX Nifty is Flat. 4. Asian markets are mixed. 5. Yesterday Nifty tried to retest 17300. 6. There was a rejection from this level and Nifty broke 17k. 7. Exactly as we has hinted in the blog yesterday. 8. U.S Markets when I slept yesterday were down 700 points. 9. Today Morning I saw there was a sharp recovery from the lows and they have closed just 270 points lower. 10. This recovery from the lows cannot be termed as bottom yet. 11. Trends don't change so easily and bottoms take time to be made. 12. 16800 is the next major support now. 13. All he'll would break loose once markets break 16800. 14. We might consolidate now for a few trading sessions. 15. Before there's a bigger move in the markets. 16. 17000 is the first support and next major support at 16800. 17. U.S VIX has crossed 25 now. 18. India VIX is close to 17 now. 19. The Volatility which we are having now it seems like