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107. Pre Market Analysis - May 18 , 2021

  1. Nifty jumped 245 points in single day where it closed at 14,923.20 points which is very crucial level for Nifty and Sensex shot up 848.18 points.

  2. Bank Nifty out performed yesterday as it rallied 1289.80 points.

  3. Every banking stock shot up more than 3% yesterday and mainly SBIN and IndusIndbank closed more than 6% by the EOD.

  4. Remember last few days all sector stocks performed well due to the positive number of their quarterly results but only one sector which is under performed even they sitting with good results now it came out of the darkness and it will show the light to Nifty to rally freely and that sector is Bank Nifty .

  5. India VIX closed below 20 again which indicates some bulls momentum .

  6. One more day for FIIs to be on selling side as they sold 2255.84 crores and DIIs bought 1948.48 crores and once upon a time FIIs showed the path to our markets but on these days the way DIIs inflow and protecting our markets is incredible , this is where we need to upgrade our self according to the situations , now we understood even DIIs also had a strength to move the market in one direction without taking support from FIIs.

  7. Bharti Airtel came with good profit in Q4 but it is less than last quarter profit so we may see some weak performance in Bharti Airtel.

  8. Today Tata Motors is set to declare their results.

  9. Coming to global markets :- Last night US markets closed flat in red due to weak performance in Tech stocks and even UK closed at little bit lower.

  10. Currently Dow Jones , Nasdaq and UK futures are trading at higher.

  11. Asian markets are trading at higher.

  12. SGX Nifty is up by 167 points and trading at 15,113.

  13. Coming to India :- Today our markets may open with huge gap-up based on SGX Nifty and global markets clues.

  14. One more Interesting day for us , Just check the chart of Nifty with 1day time frame as it was rejected many times at 14,900 to 15,000 level and today is the make or break level but consider the SGX nifty aggressiveness , for sure we will open above 15,000 level today.

  15. The question is whether we are going to hold above 15,000 or fall? and if it holds today then we may see Nifty at 15,250 in next coming days.

  16. If our markets open with huge gap -up then avoid the trades in the opening minutes and in the first one hour expect buy on dips markets or little bit correction and if correction not happen today then we may see buy on dips market in the morning and range bound in the afternoon.

  17. The one who is looking for support and resistances based on OI data and Chart analysis :- Nifty had a resistance at 15,174 and if 15,000 taken out then it will act as support now.

  18. Bank Nifty 35,000 level is very crucial towards upside and breaking that levels with huge volume may see further upside and support at 33,200 and 33,620.


All The Best , Trade With Discipline.

BONFIRETRADER

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