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Pre - Market Analysis (27th July 2020)

  1. U.S Markets were down 0.5% on Friday but now Dow Futures are Trading higher by 0.5%.
  2. Asian Markets are Mindly Positive.
  3. Also Asian Markets are not reacting to U.S Markets
  4. SGX Nifty is Trading near 11210.
  5. On Friday there was a gap down of more than 100 Points on Nifty and Bank Nifty was down 500 Points at one time.
  6. But Markets recovered Sharply from there on & closed near the highs of the day.
  7. This shows that the Bulks are in control of things now.
  8. FII's have been Contineously buying and as long as they buy markets cannot go down much lower.
  9. Another stock which is not looking to stop is Reliance.
  10. Everybody is waiting for a correction in Reliance but there has been no Opportunity.
  11. Everyday it is Witnessing new highs.
  12. 11050 to 11250 is the short term range for Nifty Currently.
  13. Once 11000 is broken we will get sharp towards Downside or if 11300 is taken out we might Witness sharp Momentum on the Upside.
  14. Until then Markets will just move within this range.
  15. ICICI Banks results were announced over the Weekend and the results look good.
  16. Asset Quality has improved Significantly.
  17. Interesting to see how this stock performs today.
  18. ITC also has come out with above average results.
  19. Generally , in Monthly Expirys , Big moves come in 2nd half of Tuesday.
  20. I would be waiting for that Big move to come in to Trade into.
  21. Until then it should be fairly Rangebound Market.
  22. Trend is Positive so it is a buy on dip market until 11000 is broken.
  23. Nifty might Trade between 11140 to 11300 today.


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