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Pre - Market Analysis (4th August 2020)

  1. US markets closed on a Positive Note Yesterday.
  2. Asian Markets are all Trading Positive.
  3. SGX Nifty is up by about 40 Points.
  4. Yesterday our Markets fell below 11k and Witnessed a Breakdown.
  5. Trend looks Bearish as of now.
  6. Few Index Heavyweights on the Back of which Markets were running have started to correct.
  7. Reliance , HDFC Bank are down more than 10%.
  8. Aditya Puri News impact seems to have been effecting HDFC Bank a lot.
  9. Amit Shah (Home Minister) has been tested Positive for Corona Virus.
  10. Now Markets may be afraid that due to him testing Positive all the Politicians including PM are in risk of testing Positive.
  11. India is Slowly to be the First Country with highest Corona Virus cases.
  12. This could dent a severe impact on the Economy.
  13. Long Term investors should start booking profits in their Portfolio.
  14. Markets were Rallied Excellently and now is the time to apply Caution.
  15. Auto Sales have been better than expected.
  16. India's Monsoon has been more than 10% than Normal.
  17. India is a Agricultural Economy so Monsoon weighs a heavy impact of the Country.
  18. 10900-10850 is the Next support for Nifty.
  19. In this level is taken out then the next support is around 10600.
  20. I think 10900-10850 should hold on Currently.
  21. Once this support is tested and held then Markets might Witness a good short covering rally.
  22. FII's were net sellers Yesterday and have sold Heavily.
  23. On the other hand , DII's were net Buyers but a very small amount.
  24. Nifty might Trade between 10880-11060.


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