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Pre - Market Analysis (4th October 2021)

  1. U.S Markets closed higher on Friday.
  2. Asian Markets are lower.
  3. SGX Nifty is Trading near 17560.
  4. On Friday Night SGX Nifty was indicating an Opening near 17650.
  5. Today Morning there was a news that China bans Trading of Evergrande shares in Stock Exchange.
  6. As the Company defaults debt obligation payment.
  7. This led to panic selling in China and Hong Kong.
  8. HDFC reports a 135% increase in the Loan Book and that's a staggering number.
  9. I feel HDFC twins have been bottomed out and should go higher from here.
  10. FII's turned into net buyers on Friday though the figure was small.
  11. DII's continue to support the Market at lower levels.
  12. Unless there's any significant news out of the Blue I feel 17450 is a short term bottom for our Markets.
  13. Nifty fell 500 Points from 17950 all the way to 17450.
  14. Corrections of 500 Points have been bought into very aggressively in the past.
  15. Also I expect corporate results to be above Expectations for this Month.
  16. This effect will be felt from Next week as results will start coming in from 8th October.
  17. Accenture has declared very good results and that should cause positive sentiment in IT stocks.
  18. Buy on dips should be the strategy from here.
  19. Nifty might Trade between 17500 to 17700 today.


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