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10. Pre Market Analysis - Dec 7, 2020

  1. FIIs bought 17,818cr in first four trading sessions of December

  2. Nifty hit fresh All The High on Friday

  3. Bank Nifty consolidated in between 29k to 30k from past 10days and Friday it came out of 30k ,it shows little bit breakout

  4. Friday RBI didn't came with bad comments so that is the reason our market closed high on Friday

  5. But Hdfc bank is the only stock which is dragging Bank Nifty and Reliance is the only stock which is dragging Nifty

  6. Metal , Auto and Pharma stocks are performing very well from past 4 days

  7. Coming to Global Markets :- US markets closed at ATH on Friday , Currently Dow Jones Fut trading Negative

  8. The Only News we can expect from this year from US market is about Fiscal package before the year end

  9. Sgx Nifty trading in Negative as of now

  10. Coming to India :- Today Our Market will open flat with Negative based on global markets

  11. But It doesn't mean that market will go fall today because of gap down , its not about opening a day its all about how the market is going to close a day

  12. Last Friday our markets opened with gap down but at the end of the day markets rallied towards upside and closed with positive

  13. Bank Nifty is at Crucial level 30k and if it sustains above 30k today then it will easily rally upto 31k

  14. Nifty is keep on making News Highs without consolidation so we have to wait for atleast few days consolidation or correction to buy at lower levels

  15. One Who is looking for Open Interest Data :- 13,300ce was seen at more contracts by this week which will act as crucial resistance and 13,400ce , 13500ce are the next resistances based on OI contracts

  16. For Put Options data 13,200pe was seen at more contracts which will act as strong support by this expiry and 13,100pe and 13000pe are the next supports based on OI contracts

  17. Bank Nifty 30,000ce was seen at more contracts which will act as crucial resistance and 30,500ce is the next resistance based on OI data

  18. For Put Option data for Bank Nifty 30000pe was seen at more contracts by this week expiry which will act as strong support and 29500pe is the next support for bank nifty

  19. Looks like 30k is the crucial for bank Nifty today so don't chase the gapdown wait for sometime to get clear direction


All The Best , Trade with Discipline

BONFIRETRADER

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