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Pre - Market Analysis (2nd August 2021)

  1. U.S Markets closed lower on Friday.
  2. Right now U.S Futures are Trading higher.
  3. SGX Nifty is Trading near 15900.
  4. Asian Markets are higher.
  5. There were some positive news over the weekend.
  6. The GST Collection for July came at 1.16 lakh crore.
  7. This is the top 3 highest GST Collections till date.
  8. Auto Companies reported good sales numbers.
  9. Due to these positive news we are indicating towards a 100 points gap up.
  10. I would sell if we open near 15900.
  11. At 15900 I would short the Nifty with 50% of my volume and near 15950 I would look to short again with 50% of the remaining volume with a stoploss of 16k.
  12. If it works its well and good. Else I'm prepared to take my Stoploss.
  13. 16000 CE continues to have highest open interest for August series.
  14. July series too we had the same situation.
  15. Thus we can expect it to act as stiff resistance.
  16. Surprisingly , 15000 PE has the first highest open interest in August.
  17. Second highest Open interest is at 15500 PE.
  18. This shows that people are more fearful of the downside than the upside.
  19. These are data points which you need to consider.
  20. Nifty might Trade between 15740 to 15920 today.
  21. stockmarketadvisory.in

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