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Pre - Market Report (15th September 2020)

  1. US markets closed 1.5% higher Yesterday.
  2. Asian Markets are Mixed.
  3. SGX Nifty is Trading near 11470 so we can almost expect a flat opening.
  4. Yesterday our Markets opened above the Resistance level of 11500 with a big Gap up.
  5. First half the Markets were flat but we Witnessed big selling pressure in second half.
  6. This was a Total Surprise.
  7. Bank Nifty fell by more than 400 Points in about half an hour & Nifty by 100 Points.
  8. Maybe S&P fitch negative outlook on the Economy was the reason for this sell off.
  9. But later durring the day we recovered 50% of the losses as well.
  10. So it was a high Volatile day yesterday.
  11. India VIX from Negative 1% was up 3% at one point of time.
  12. From last 1 Month these sudden Intraday collapses have been happening without any major reason.
  13. The star of the show Yesterday were IT Stocks.
  14. IT index was up 5% yesterday.
  15. All the IT stocks are on a league of their own.
  16. Previously I had mentioned that there are 2 factors for this Bull Market.
  17. One is IT stocks and next Reliance.
  18. We have sold IT stocks put options yesterday and adviced same to our clients.

  19. Bank Nifty is very very weak and unable to sustain at higher levels.
  20. As soon as Bank Nifty pullback comes , big selling is witnessed.
  21. Yesterday we found support on Nifty near 11400.
  22. This is a very important short term support and every dip should be bought into.
  23. Nifty might Trade between 11380-11560 today.


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