Search

128 . Pre Market Analysis - June 18 , 2021

  1. Markets continued the losses for the second straight day.

  2. Where as Nifty fell 76.10 points , Sensex was down 178.65 points and Bank Nifty fell 398.10 points .

  3. Financial stocks , Auto , Metal and Pharma stocks dragged the market.

  4. FIIs sold 879.73 crores and DIIs just bought 45.24 crores , its an clear sign that markets are pure bearish.

  5. The major reason for yesterdays fall is U.S markets negative sign and always remember Dow Jones is the key element for us and we always follow the Dow Jones where it was closed in red on Wednesday due to FED increased the interest rates and our markets opened with gap-down after seeing negative close in U.S.

  6. Where as Crude Price came to below 73 now and USD/INR price raised to 74rs which is good for IT sector but not banking sector and this is the reason why IT sector closed in positive on yesterday.

  7. We are at ATH and now investors just started booking their profits and this is less numbers but if they started booking more then we may fall big .

  8. If Bank Nifty breaks Monday low which is 34,375 then it will be free fall for Bank Nifty.

  9. Coming to global markets :- Last Night Dow Jones , S&P 500 closed in negative but Nasdaq closed in positive and U.K markets closed at flat.

  10. Currently Dow Jones , Nasdaq and U.K futures are trading at with flat in positive.

  11. Most of the Asian markets are closed in red.

  12. SGX Nifty is up by 70 points as of now.

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

  14. Consider the global markets negative territories and USD/INR price and yesterday last 20 mins closing on negative with strong bearish candles , all these gives a sign for bearish market but SGX Nifty is giving support to our markets to open at gap-up but after opening with gap-up don't try to chase for bullish and expect one sell -off round in the morning and afternoon we may see Algo moves to adjust the premium prices as today is an Friday.

  15. Banking stocks are under performing and we have mentioned some support levels, most of the levels broken so weakness may continue in the Bank Nifty.

  16. The one who is looking for support and resistances based on OI data along with chart analysis :- Nifty looks like taking the support at 15,611 and resistance will be 15,783.

  17. Bank Nifty had a resistance at 35,000 and support at 34,375 and next will be 34,000 if it taken out then Bank Nifty will fall drastic.


All The Best , Trade With Discipline.

BONFIRETRADER

92 views0 comments

Recent Posts

See All

Markets started taking rest by getting into consolidation phase where as IT ,Metal stocks started booking their profits. Nifty fell 55.90 points , Sensex was down by 214.18 points and Bank Nifty shot

Markets continued the bullish rally by another day and led by Bajaj twins , TCS, HDFC twins , Bharti airtel , Asian paints etc.. Where as Nifty jumped 201.20 points , Sensex rallied 662.63 points and

Markets continued the bull run off the week with an aggressive kick start where Nifty and Sensex made new records high. Nifty jumped 225.80 points , Sensex rallied 765.04 points and Bank Nifty gained