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130 Pre Market Analysis - June 22 , 2021

  1. Markets recovered sharply in the afternoon session with a help of Financial stocks , Reliance and other weightage stocks.

  2. Where as Nifty shot up 250 points from intraday day low and closed with a gain of 63 points , Sensex rallied 230 points and Bank Nifty jumped 1000 points from intraday low and closed with a gain of 313 points.

  3. FIIs sold 1244.71 crores and DIIs bought 138.09 crores.

  4. Actually we are in bulls rally from many days but Banking stocks are only one sector which dragged our markets and one negative news triggered our markets badly on Friday and Monday but always remember in bulls markets if we see any minor fall due to global weakness then bulls will recover fast and furious once that weakness gone .

  5. Exactly this is what happened yesterday , when entire global fell however our markets also opened with huge gap-down and after opening with gap-down some short covering made our markets to move upside but sudden recovery in Dow Jones and Nikkei boosted our markets to fly in the afternoon session so markets took it as advantage and bounced back to higher levels very aggressively.

  6. Adani stocks touched upper circuit after their promoters took the stake in their company.

  7. Nifty is moving in between the range from upside (15,780 -15,800) to downside (15,500-15,450) and looks like Nifty is going to kiss 15,800 but be cautious at 15,780 - 15,800 due to strong resistance so we may see strong pull back , once it breaks then it may touch ATH.

  8. Coming to global markets :- Last night U.S and U.K markets closed in positive and Currently Dow Jones , Nasdaq and U.K futures are trading with flat in positive.

  9. Asian markets are mixed.

  10. SGX Nifty is up by 86 points as of now.

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

  12. Consider the way our markets are closing in the last 30 minutes towards upside , looks like bulls may continue the rally by today but looks like global markets may spoil our bulls rally so we may see one round for sellers today but today in the first one hour markets may go with buy on dips if it is not happen then markets will fall first then go with buy on dips.

  13. As we said this is an last expiry of this month so markets will continue the same volatility and playing on this types of markets really required strict wide stop loss .

  14. The one who is looking for support and resistances based on OI data with Chart analysis :- Nifty any move 14,800 with huge volume will be an direction for upside and any move below 14,627 will be an direction for downside.

  15. Bank Nifty had a resistance at 35,378 and next resistance will be 35,713 and if 35,000 breaks today then it will act as support.


All The Best , Trade With Discipline.

BONFIRETRADER

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