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Pre - Market Analysis (8th June 2021)

  1. U.S Markets closed Slightly Negative Yesterday.
  2. Nasdaq closed slightly positive.
  3. Right now Asian Markets are mostly lower.
  4. SGX Nifty is down by 10-20 Points.
  5. Yesterday Markets opened higher and continued the Momentum.
  6. What was a bit surprising about Yesterday's rally was U.S Futures were down Intraday and European Markets were also lower during Market hours.
  7. Still our Markets closed firmly in Green.
  8. Reliance was the outperformed even Yesterday.
  9. Bajaj Finance and Bajaj Finserv both witnessed profit booking due to Cautious view by Managements.
  10. Bank Nifty facing some reistance near 35500.
  11. Bank Nifty will gather steam if we get closing above 35500.
  12. On the lower level 35200-35100 is a good support.
  13. Bank Nifty from quite some time trading within this range.
  14. When Everybody expects an index to go up it generally consolidates.
  15. When these people lose patience and dispose their positions it rallies.
  16. Most of the Technical people expecting Bank Nifty to go higher so it's Consolidating.
  17. Patience to stick to your positions and conviction rewards.
  18. In spite of Global Markets witnessing profit booking Indian Markets are outperforming.
  19. 15700 PE has added large open interest yesterday.
  20. This is in the money option still added huge open interest.
  21. Expecting this level to be a good support for Nifty for coming days.
  22. Nifty might Trade between 15680-15840 today.
  23. Expecting a Rangebound day on Nifty and Bank Nifty with 100-150 Points plus or minus.


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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