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Pre - Market Report (2nd June 2020)

  1. US markets closed 0.5% higher Yesterday.
  2. Asian markets are mostly Positive.
  3. U.S Futures are down after Trump Announcements for deploying more forces to control the Protestors.
  4. SGX Nifty is higher by 30 Points and Trading near 9800.
  5. This has been a big rally for our Markets.
  6. Nifty is up 10% in last 3 days and Bank Nifty is up 17% for the same period.
  7. Yesterday at one point, call options were trading at 1400% premium .
  8. India VIX too inched higher Yesterday.
  9. Still there are some people saying me that they are Shorting the Market on every rally.
  10. They will keep shorting until they go Bankrupt.
  11. From Centuries , people have been saying to follow the Trend.
  12. Trend is very very clear & thats on the upside.
  13. So please don't follow your OPINIONS.
  14. Follow the Trend.
  15. Earlier Nifty tested 10000 twice, so it is a double top.
  16. 10,000 should act as a Resistance for Nifty.
  17. The reason for this rally is big FII's buying.
  18. FII's sold more than 15,000 crore in the Month of May.
  19. In the Month end for May , they started buying and have bought more than 7000 crore in 4 trading Sessions.
  20. Moodys downgraded India rating Yesterday and again people are Expecting markets to crash due to this.
  21. Credit Ratings now a days should be thrown in dustbin. It's of no use at all. 
  22. 9700 should act as a good buying zone for Intraday basis.
  23. If by any reason you get dips closer to that level you should latch on to them.
  24. In Trending Markets if you see a big Candle against the Trend thats a great risk reward trade.
  25. If 10,000 is taken out we can witness 10200-10500 in coming weeks.
  26. Reliance was a long term Suggestion from my side around a month ago.
  27. Those who Regularly read my Blogs should know this and was Suggestion near 1400.
  28. Now it's already up almost 10% in less than a week.
  29. Once Reliance crosses 1600-1650 levels it will keep flying higher.
  30. Must have stock in your Portfolio.
  31. Trade remains to buy on dips closer to 9700 for Intraday.
  32. For Swing Traders the Stoploss should be 9500 and keep building long positions on every dip & be patient for a Breakout to happen.
  33. Markets are likely to Breakout on the Upside in coming weeks.
  34. After this big rally Expecting markets to take breath and consolidate for a few trading Sessions.
  35. 9680 - 9980 should be that Consolidating range.
  36. Financials have bottomed out and will now witness huge short covering rallies.


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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