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110. Pre Market Analysis - May 21 , 2021

  1. Last hour selling pressure made Indian Markets to close in red for the second consecutive day.

  2. Nifty fell 124.20 points , Sensex declined 337.78 points and Bank Nifty closed with a loss of 350.65 points.

  3. Banking , Metal , Select FMCG and IT stocks dragged the market.

  4. FIIs just bought 71.04 crores which is very less number and DIIs sold 876.06 crores.

  5. Yesterday our markets consolidated till 02 P.M but when U.K markets started falling down then our markets started falling drastically where Nifty fell 110 points and Bank Nifty fell 350 points.

  6. That is the reason for tracking every global markets to predict our market.

  7. Most of the weightage stocks are under performing like HDFC bank , Reliance , ICICI Bank , Kotak Bank , Axis Bank etc.. and if today these stocks turned to positive then we may see some positive moment in Nifty and Bank Nifty.

  8. Yesterday most of the banking stocks was closed in red but SBI closed at flat due to a head of their results and all banking stocks declared their results in positive and hope SBI will also come with good number for sure so expect some good performance in SBI and other PSU Banks .

  9. Today SBIN , Hindalco , JSWSTEEL are set to declare the results.

  10. Coming to Global markets :- Last night US and UK markets closed in positive and currently Dow Jones ,Nasdaq and UK futures are trading at higher.

  11. Asian markets are mixed.

  12. SXG Nifty is up by 67 points where it is trading above 15k as of now.

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

  14. After two days of fall due to global markets now our markets may turn to positive today but the biggest question is whether Nifty will closed above 15k today or not ?

  15. Consider the way global markets game play ,Cryptos recovering , FIIs buying number and SBI results and mainly today is an Friday so with all these things our markets may go with buy on dips in the morning and afternoon moves will be decided based on UK markets opening.

  16. Also track weightage stocks before going to trade on index and call side premiums are very high so expect Friday Algo moves to adjust the premiums'.

  17. The one who is looking for support and resistances based on OI data and chart analysis :- Nifty 15,000 level is crucial for upside and 14,855 will be for downside.

  18. Bank Nifty had a resistance at 33,760 and if it breaks then next will be at 34,000 and support at 33,000.


All The Best , Trade With Discipline.

BONFIRETRADER

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