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Pre - Market Analysis (4th September 2020)

stockmarketadvisory.in


  1. US markets were down 3% Yesterday.
  2. Nasdaq crashed more than 5%.
  3. People are considering it as profit booking .
  4. Is it profit booking or Trend reversal , time will say.
  5. Markets goes up very slowly but the downside is too fast and surprising.
  6. SGX Nifty is down 150 Points.
  7. Bank Nifty has already Underperform for whole of this series.
  8. It was up 2000 Points once but again back to Normalcy.
  9. Today can be a Black Friday for our Markets.
  10. This Liquidity driven rally which wasnt backed by Fundamentals should have. Ended at some point.
  11. Now do not go and chase the dip blindly.
  12. It's not like before that every dip will be bought.
  13. Now try to focus on sell on rallies type.
  14. Because clearly markets have been facing resistance on higher side.
  15. Yesterday Nifty was down hardly 20-30 points.
  16. But Bank Nifty was down more than a percent.
  17. It is looking very weak.
  18. Today U.S jobs data is a very important number to track.
  19. Just a word of caution do not go and buy the dip now.
  20. We do not know how far the dip might keep dipping.
  21. Look to sell on rally.
  22. Nifty might trade between 11320 to 11480.

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