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Pre - Market Analysis (4th August 2022)

  1. U.S Markets closed higher Yesterday.
  2. U.S Markets have recovered all of their losses of Monday and Tuesday.
  3. Just Yesterday in a day.
  4. SGX Nifty is higher by 90-100 points.
  5. Asian markets are higher.
  6. Yesterday markets crossed the swing low of 17380 in the final hour 
  7. That gave us an Indication regarding how Bullish the Market is.
  8. 17500 is the next resistance now.
  9. Bank Nifty is super bullish.
  10. In this Bull Market I expect Financials to lead the rally.
  11. Which we are already witnessing from past month.
  12. Tomorrow we have RBI policy so today last hour Bank Nifty might get Volatile.
  13. This is clearly a buy on dips market.
  14. Each dip is being bought and Market inches higher the next day.
  15. Yesterday I had adviced to go long near 17200 and this trade played out really well.
  16. Nifty in the first hour was negative and trading near 17200 but closed at the highest point of the day.
  17. 17200 is now a very major support for the markets.
  18. Next leg of rally will begin only once Nifty closes above 17500.
  19. Until then markets might again take their time & consolidate.
  20. Nifty might Trade between 17380 to 17580 today.


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