144. Pre Market Analysis - July 13 , 2021
Markets closed in flat with huge volatility on Monday with weak performance by Weightage stocks like HDFC Twins , Infosys , TCS etc..
Where as Nifty closed with a gain of just 2.80 points but yesterday it fell 120 points in just 10 minutes and immediately recovered 60 points and again fell 75 points but finally closed with 2.80 points positive which we called it as flat closing day.
Sensex fell 13.50 points and Bank Nifty was up by 126 points.
As usual FIIs continued the selling number by tanking 745.97 crores and DIIs bought 447.42 crores in cash market.
Nifty is fighting in between weightage stocks and border stocks as the best example you can see yesterday market.
But consider the way markets last one hour closing on yesterday , looks like buyers still didn't gave up at lower levels and
At the same time yesterday only we mentioned that VIX need to break 15 strongly for any bearish side breakout until that buyers will lead the market.
Markets will react based on weightage stocks results so wait for it and confirm the trend.
Coming to Global markets :- Last night U.S and U.K markets are closed at higher and currently Dow Jones , Nasdaq and U.K futures are trading at flat.
Most of the Asian markets are trading at higher.
SGX Nifty is up by 135 points which is trading above 15,800 as of now.
Coming to India :- Today our markets may open with huge gap-up based on SGX Nifty and global markets clues.
This is an unexpected gap-up because no one thought that yesterdays fall will recover quickly and that's why we always say Indian bulls are always fast and furious.
The only reason for not predicting our markets at ATH is due to rise in Crude and USD/INR and the way FII selling on everyday , with these reason we are not convincing to expect a strong bulls rally.
Nifty had a resistance at 15,850 to 15,920 which is ATH also so any time markets may reverse at those zones so be cautious before taking the entries at higher levels.
After Big gap-up expect one round for sellers in the morning and if not happen then today will be the buy on dips in the morning and afternoon will be the range bound market.
Few levels may protect or stop the rally for Nifty which is 15,850 to 15,920 zone for upside and for downside 15,635 and next will be 15,500.
Bank Nifty had a crucial resistance at 35,370 and 35,500 to 35,715 area , if it breaks today then we may see Bank Nifty at ATH and support at 35,000.
All The Best , Trade With Discipline.
BONFIRETRADER