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12. Pre Market Analysis - Dec 9 ,2020

  1. Yesterday Nifty ended with flat in positive

  2. Bank Nifty is struggling to break 30,300 levels

  3. Reliance back to action , if today reliance support to Nifty then Nifty will touch ATH easily

  4. But always expect some selling pressure from higher levels so before going to break ATH atleast it will consolidate for sometime then it will rally

  5. If HDFC bank , KOTAK bank , Reliance gave support to Nifty and Bank Nifty then todays rally is Unstoppable

  6. Yesterday majority of the sectors fell little bit , don't think its an reversal signal . from last few days major of the stocks was rallied and it might be profit booking also so wait for today to get a clarity

  7. Yesterday Wockpharma touches Upper Circuit (10%) due to positive vaccine news

  8. FIIs again bought 2909.6crs but DIIs sold aggressively

  9. Coming to Global Market :- US markets closed at Higher due to Vaccine positive news and Dow Jones Fut trading in positive as of now

  10. NASDAQ AND S&P 500 touches All The High yesterday and it was 10th straight day gain for Nasdaq

  11. SGX Nifty trading in positive as of now

  12. Coming to India :- Today Our Market will open with gap up based on Global Markets

  13. If our markets open with Huge gapup then expect some correction from higher levels before going to make a rally

  14. If Reliance continue the same action by today then Nifty will reach 13,500 very easily by today

  15. Bank Nifty is waiting for HDFC bank and KOTAK bank action , If those perform well today then Bank Nifty will definitely touch ATH

  16. Yesterdays high was very strong resistance for Bank Nifty and if it breaks yesterdays high then expect some rally

  17. Today is Wednesday so expect huge volatility with some odd candle moves

  18. High premium erosion will be happen in the second half so be cautious

  19. The One who is looking for Open Interest Data :- 13500ce was seen at more contracts which will act as strong resistance by this week and 13,400ce,13600ce will be the minor resistances

  20. For Put data - 13300pe was seen at more contracts will act as strong support by this week and 13,200pe,13100pe is the next minor supports

  21. Bank Nifty 30,500ce and 31000ce was seen at more contracts which will act as strong resistances by this week and 30000pe ,29500pe will major supports


All The Best , Trade With Discipline

BONFIRETRADER

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