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Pre - Market Analysis (24th August 2020)


  1. US markets ended Positive on Friday.
  2. U.S Markets are making fresh highs almost on daily basis now.
  3. Asian markets are mostly positive.
  4. SGX Nifty is higher by about 15 Points.
  5. Friday , the Markets have opened with a huge gap up but the gap ups are Unable to Sustain.
  6. This is a no follow through market.
  7. There is no follow through & it's lagging.
  8. Also , Markets are Trading within a tight range.
  9. On Friday , Nifty Traded in the range of just 40-50 Points.
  10. This is because VIX was below 20.
  11. I feel that India VIX was made a double bottom near 19.5 and has bottomed out.
  12. FII's were net Buyers whereas DII's were net sellers on Friday.
  13. Monthly expiries are always Volatile.
  14. A big move is expected on any side of monthly Expiry.
  15. My view is Bearish with a Stoploss of 11500.
  16. Pharma Sector looks topped out and not much steam left there.
  17. Auto Stocks are Outperforming and may continue to do so.
  18. Bank Nifty might continue to Underperform the Nifty.
  19. Nifty might Trade between 11340 to 11480 today.
  20. stockmarketadvisory.in

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