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Pre - Market Analysis (7th October 2020)

  1. US markets closed more than a Percent lower Yesterday.
  2. Trump has halted the second Stimulus.
  3. He Announced that Stimulus will be given a consideration after November Elections.
  4. But Asian Markets are mostly Postive.
  5. SGX Nifty is around 11700.
  6. Trump halted Stimulus talks.
  7. There has been a one way rally for Nifty from 10800 to 11700 is less than 10 trading sessions.
  8. 11800 was the recent high made by us if this gets broken then 12000 is the target.
  9. But I think it would take some time and wont happen Instantly.
  10. In this low Liquidity and Volatile Market delivery option selling is quite risky.
  11. Better to close Positions Intraday.
  12. The view remains strong buy on dip on both indices.
  13. Specially for Bank Nifty as it has been Underperforming from quite a long time.
  14. Also be prepared to handle Volatility.
  15. Shorters can explore short trade near 11800 on Nifty as that would be a huge resistance.
  16. FII's have turned net buyers.
  17. When they turn into buying mode after continue selling then such magic happens.
  18. IT sector looks on phenomenal Bull run.
  19. This is to be entered on Every dip and Consolidation.
  20. Yesterday markets shot up in last hour and broke resistance of 11600 which is a sign of strength.
  21. Nifty might Trade between 11640-11820 today 


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