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Pre - Market Analysis (6th September 2021)

  1. U.S Markets closed higher on Friday.
  2. Asian Markets are higher currently.
  3. Dow Futures are slightly down.
  4. SGX Nifty is Trading at 17380.
  5. SGX Nifty hit 17400 on Friday.
  6. I had mentioned on Friday to focus on Nifty and not Bank Nifty , Purely because of IT stocks outperformance.
  7. Reliance news came out of nowhere and it closed 4% higher.
  8. This move according to me shouldn't be taken lightly.
  9. Reliance from 2380 went to 1880 and now it's back again at all time highs.
  10. Reliance has the highest weightage in Nifty and if Reliance goes 10-15% higher from here.
  11. 18000 targets on Nifty open up.
  12. Bank Nifty on the other hand continues to underperform.
  13. Nifty by itself with the help of IT and Reliance is gaining momentum.
  14. Bank Nifty will participate in bits and pieces but not in the same order as Nifty.
  15. 17500 targets on Nifty are in sight now.
  16. 17200-17150 are strong support zones for Nifty.
  17. We are trading at all time highs so there are no resistances for the Market.
  18. Hence there is non stop rally.
  19. Friday as well Nifty gave a 100 Point dip Intraday close to 17200.
  20. These dips should be bought into.
  21. Not advisable to chase the Market after gap up.
  22. Wait for 60-100 Points dip and accumulate long Positions with Trailing stoploss of 17200 for a very short term.
  23. Nifty might Trade between 17260 to 17480 today.


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