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114. Pre Market Analysis - May 27 , 2021

  1. Markets closed in green for the fourth straight day .

  2. Where Nifty gained 93 points , Sensex gained 379.99 points and Bank Nifty closed with a small gain of 22.20 points.

  3. IT and few Banking stocks and Select Auto and Pharma stocks supported the market.

  4. Only IT sector contributed 47 points in Nifty yesterday.

  5. FIIs bought 241.60 crores and DIIs sold 438.59 crores which is very less numbers.

  6. Today focus on BPCL , TCS and Pharma stocks as BPCL came with good results and TCS partnered with LaCChain to develop a block chain ecosystem in Latin America and the Caribbean.

  7. Pharma stocks from Nifty 50 which are Sun pharma , Cadillac Healthcare and Eicher Motors are set to declare their results so keep a eye on them today.

  8. Coming to global markets :- Last night US markets closed in flat and UK markets closed in negative and Currently Dow Jones , Nasdaq and UK futures are trading at lower.

  9. Most of the Asian markets futures are trading at lower.

  10. SGX Nifty is down by just 15 points as of now.

  11. Coming to India :- Today we may open at flat due to SGX Nifty and global markets clues.

  12. Stock market is the place where it looks easy but difficult to make money. Do you know why?

  13. The best example we will give you - if you observe the Bank Nifty where on May 17th it shot up 1200 points and consolidated for 3 days and again on May 21 st it shot up 1200 points and Consolidated for 3 days , it means market is making a new pattern so how many of you observed this? and now your biggest question is ,is this pattern going to continue ? yes may be but two big stocks which was dragging bank nifty that is HDFC bank and Kotak bank , until they perform well we can expect weakness in Bank Nifty.

  14. Also observe the way institutional are coming with these less numbers gives us a sign that the chances of weakness is more however we are heading towards ATH and many investors will try to book their profits and mainly global markets are not supporting.

  15. Nifty is getting support from any of the sector everyday to inch ATHs but now final day came for Nifty, it is at crucial area which is 15,337 to 15,447 so any time the big profit booking may happen that leads a down fall otherwise if Banking stocks supported then it will break ATH and go further .

  16. If you get global markets support and Banking stocks support then better to be on bullish otherwise do quick scalps on both sides moves and close the day as we already knew today is the last expiry of the month so expect wild moves with high volatile so its better to take few scalps and stay away.

  17. The one who is looking for support and resistances based on OI data and chart analysis :- NIFTY had a resistance area which is 15,337 to 15,447 so be cautious and support at 15,215.

  18. Bank Nifty had a nearest resistance at 35,183 and support at 34,127.

  19. Read the 12th point and we knew Every one has their own analysis and if you did such kind of analysis before you trade then you will never face a loss in stock market so do perfect analysis and take right trades.


All The Best , Trade With Discipline.

BONFIRETRADER


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