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Pre - Market Analysis (24th June 2020)


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  1. US markets ended higher Yesterday.
  2. Nasdaq hit Fresh all time highs.
  3. Asian Markets are mostly positive.
  4. SGX Nifty is Trading flat around 10470.
  5. Yesterday I mentioned that if 10400 gets taken out 10500 will be Witnessed immediately.
  6. Last hour our Markets have given a big rally.
  7. Bank Nifty has given a Big Breakout above 22000.
  8. Market is firing on all Cylinders.
  9. Previously , everybody used to mention markets have Rallied because of Reliance , ICICi Bank and few selected stocks.
  10. But now even without help of Reliance markets are Rallying.
  11. The rally is so strong that Yesterday Markets gave you dip for some few seconds and then immediately races away.
  12. There are some people saying Nifty has Rallied so much now let's short it the Markets wont rally much.
  13. Trust me they will all be taken to cleaners.
  14. Once 10500 gets taken out the Targets for Nifty are 10700-11000 as well.
  15. The only thing about Stock Markets which is not guaranteed is time.
  16. Few small dips might come all will be buying Opportunities.
  17. Targets might come in few days or in few weeks but those Seem evident as of now.
  18. 10300 is a strong support for this Weekly Expiry and I dont think Markets will go below that zone.
  19. Bank Nifty 21500 is a strong support for this Expiry.
  20. There are huge shorts in Nifty near 10300-10400.
  21. Once they don't get follow through they will start to cover.
  22. Bank Nifty Futures and Nifty Futures were Trading at Discount Yesterday which indicate excessive short positions built.
  23. Sold 10000 ,10100,10200,10300 PE Yesterday.
  24. Sold 21000,20500,21300 Bank Nifty PE Yesterday.
  25. Reliance has not Participated in this rally from past 2 days , just imagine if Reliance starts to perform it can easily Contribute 40-50 Points for Nifty rally all by itself.
  26. Strong buy on dip market and every dips should be bought into.
  27. Quality Midcaps and small caps stocks have also started to Participate in the rally now.
  28. Nifty might Trade between 10400-10580 today.
  29. Consult your Financial Advisor and Trade on your own risk.
  30. stockmarketadvisory.in


Comments

SelfMade said…
Your blogs helps me to understand the market physiology
24 June 2020 at 08:48
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