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Pre - Market Analysis (5th August 2020)

  1. US markets closed higher Yesterday.
  2. Asian Markets are Mindly in Green.
  3. SGX Nifty is down by about 40 points.
  4. Yesterday our Markets have Rallied about 200 Points.
  5. Rally was mainly because of 2 stocks.
  6. Reliance and HDFC Bank.
  7. RBI Approval for New Chairman in HDFC Bank Triggered rally.
  8. Reliance was up 7% Yesterday Majorly due to Short covering and some deal wins news round the corner.
  9. Markets have taken support the Important level of 10850 which I mentioned in the previous blog.
  10. From there it has reversed significantly and Rallied by about 200+ Points.
  11. Expecting a bit of Stabilisation & Consolidation today.
  12. RBI Policy is due Tomorrow and that would be an Important event to watch out for.
  13. Yesterday Surprisingly FII's turned Buyers whereas DII's remain sellers.
  14. Bank Nifty has not Participated in the rally yet.
  15. Yesterday Majorly due to HDFC Bank there was a big rally in the Banking stocks.
  16. After this Big rally the Question is what more from here?
  17. I expect some Consolidation today ahead of Weekly Expiry.
  18. Short covering set in Yesterday , Markets have Rallied and was fine.
  19. Today Markets might Consolidate ahead of RBI Policy.
  20. Sold 10850 PE and 11250 CE Weekly Expiry.
  21. Expecting Markets to trade within this Range for the Expiry 
  22. Also VIX is now below 24 so Volatility is reducing with each passing day.
  23. Sold 20500,20000 Bank Nifty PE.
  24. All my Trades are of Weekly Expiry.
  25. Nifty might Trade between 10980-11140 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