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13. Pre Market Analysis - Dec 10, 2020

  1. Nifty is Unstoppable now , Everyone is waiting for correction but Nifty is making record high everyday

  2. When whole world is looking for reversal, Market will continue the rally and when everyone is looking for bullish , Market will go reversal ..Market will never go according to our expectations, it always makes surprise to us

  3. FIIS pumped again 3500crs and DIIs sold 2493cr. Its became a habit for those guys on these days

  4. Finally Bank Nifty came out of 30k after a long time

  5. Yesterday HDFC bank and KOTAK bank helped to Bank Nifty and Reliance helped to Nifty

  6. Yesterday index moves because of high weighted stocks , normal stocks didn't under performing

  7. Coming to Global Markets :- Yesterday US markets closed lower , currently Dow Jones Fut is flat in positive

  8. SGX Nifty is in positive as of now

  9. Coming to India :- There is no bad news today so we can expect gap up opening for Nifty and Bank Nifty

  10. Today is an one more interesting expiry day of this month

  11. If our markets open with gap-up then definitely it will take correction then move again

  12. So Don't chase the market if it open with huge gap up , wait for the correction and enter at the lower levels

  13. Today is an expiry day so expect a huge volatility with some old moves

  14. If HDFC bank and Kotak Bank supports today then Bank Nifty will break 31k for sure

  15. The One Who is looking for Open Interest Data :- 13650ce was seen at more contracts and added huge contracts of that strike so it will be the crucial resistance for Nifty. Today Nifty wont break 13650 that much easily and 13600 is the next minor resistance

  16. For Put options data , 13500pe was seen at more contracts and added huge new contracts as well , so its very difficult for breakdown below 13500 for Nifty and 13450 and 13400 is the next minor supports

  17. Bank Nifty 31000 was seen at more contracts which will act as crucial resistance for today and 30500 is the crucial support for today

  18. Over all view is bullish today but expect some profit booking at higher level ,may be that can be drag the index


All The Best , Trade With Discipline.

BONFIRETRADER

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