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Pre - Market Analysis (23rd September 2020)

  1. US markets stabilised Yesterday.
  2. Closed in Green , though not a big rally but stabilisation is a good outcome.
  3. Asian Markets are mostly flat.
  4. SGX Nifty is also flat.
  5. Markets this week and highly Volatile.
  6. Within seconds , the Positions have been changing.
  7. Trading in this Market without a Pre determined plan and Stoploss can kill a Trader.
  8. So better to follow these rules while Trading or stay away from Trading in such heavy Volatility.
  9. 11200 was a major support for Nifty and it got taken out Yesterday.
  10. Infact we closed below 11200 on Nifty Yesterday.
  11. 21000 is a major support for Bank Nifty & that was also breached Yesterday which is not a good sign.
  12. We are clearly on a sell on rally market now.
  13. Use every Pullback / rally to sell into this rally.
  14. I have been selling Call options of Banking stocks as I'm bearish about Bank Nifty.
  15. Markets have been irrational post March but sooner or later they have to come in line in Reality.
  16. That's what is happening currently.
  17. This is the time to book profits for those who haven't booked near 11700-11800 on Nifty.
  18. I adviced to book profits near this range for investors.
  19. FII's have been selling aggressively.
  20. DII's supporting by buying but not of high Amounts.
  21. India VIX was low Yesterday but Volatility was pretty high.
  22. Nifty might Trade between 11080-11320.


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