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11. Pre Market Analysis - Dec 8, 2020

  1. FIIs pumped again 3500crs and DIIs selling aggressively , still could not stop the bullish rally

  2. Yesterday Nifty Closed with positive and we already mentioned this in yesterdays pre market analysis, as we cant decide the market by the opening price , we should always wait for sometime to get a clear direction

  3. Yesterday market opened with flat but ended with positive

  4. Still Reliance was under performing which is dragging Nifty

  5. HDFC bank and KOTAK bank are under performing ,In Bank Nifty these 2 banks are more than 50% weightage so that is the reason why bank nifty is struggling to make big moves towards upside

  6. Last few days PSU banks are performing very well

  7. Few weeks back SBI was 200 but now it is at 270 and Bank of Baroda & other banks which are in PSU are rallying from last few days

  8. Now its time for Private Sector banks but still we have to wait for HDFC bank and KOTAK bank action before going to expect any move from Bank Nifty

  9. Coming to Global Markets :- Yesterdat US market closed lower , currently Dow Jones Fut is flat in negative

  10. NASDAQ rallying from last 9 sessions without correction

  11. SGX Nifty is flat in negative as of now

  12. Coming to India :- Today Our open with flat based on global market clues

  13. If our market open with gap up then expect some correction in the first half then will give a clear direction in the second half

  14. if our market breaks highs in the first one hour then the chances of rallying is more

  15. The One Who is looking for Open Interest Data :- Nifty 13500ce was seen at more contracts which will act as crucial resistance by this week and 13400ce,13600ce will be the next resistances

  16. For Put data 13300pe was seen at more contracts which will act as strong support for this week and 13,200pe and 13100pe will be the next support

  17. For Bank Nifty 30500ce is the crucial resistance and 30000pe is the support

  18. In 1day time frame 30200 to 30300 is an crucial area for Bank Nifty and if it breaks then we can expect some bullish moves

All The Best , Trade With Discipline


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