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Pre - Market Analysis (7th September 2021)

  1. U.S Markets were closed Yesterday.
  2. There was a labour day Holiday Yesterday for U.S Markets hence not much Global cues.
  3. Asian Markets are mixed.
  4. Hang Seng is up while China is down Slightly.
  5. Dow Futures are slightly higher.
  6. SGX Nifty is Trading at 17420.
  7. Yesterday was a very flat day.
  8. Frontline indices consolidated throughout the day.
  9. The significant event was FII's have sold Yesterday.
  10. This came after 2-3 weeks of continue buying.
  11. This might be due to holiday in U.S hence they sold.
  12. Whether it's a trend reversal or not we have to see today.
  13. IT Stocks are on another planet in our Market.
  14. There has been a Non - Stop rally in IT Stocks.
  15. Wipro was the outperformer Yesterday.
  16. Bank Nifty continues to underperform.
  17. 17200 is a strong support for our Market in short term.
  18. Any sort of dip should be bought into and can be used to sell Put Options.
  19. Reliance after crossing it's all time is showing momentum.
  20. Short term target for Reliance opens up to 2600-2700 and this might come in September itself.
  21. I've sold 2300 & 2200 Put Options in Reliance for September expiry.
  22. Nifty might Trade between 17320 to 17520 today.


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