145. Pre Market Analysis - July 14 , 2021
Markets closed at higher due to weightage stocks out performance with positive global clues.
Where as Nifty rallied 119.80 points , Sensex jumped 397.04 points and Bank Nifty shot up 474.50 points.
Nifty out of 119.80 points , Financial sector alone contributed 95 points and Reliance contributed 11.63 points and that's why we always said to keep track the weightage stocks while predicting the market.
FIIs and DIIs were both on buying side yesterday , where as FIIs bought 113.83 crores and DIIs bought 344.19 crores , these number are very less but compare to selling side its k to be on buying side .
Yesterday Mind Tree came with good results and Today Infosys is going to declare the results after market hours so impact will be there by tomorrow not today.
Coming to Global markets :- Last night U.S and U.K markets are closed in red and Currently Dow Jones , Nasdaq and U.K futures are trading at flat.
Most of the Asian markets are trading in red.
SGX Nifty is down by 53 points as of now.
Coming to India :- Today our markets may open with gap-down based on SGX Nifty and global markets clues.
Looks like yesterday investors prepared to touch ATH in our markets but today our after seeing global clues and crude with USD/INR rise is spoiling their sentiment so after gap-down opening expect short covering to yesterday's closing price and after that index will move based on weightage stocks move.
Nifty closed above 15,800 on yesterday and today if it open below 15,800 then one more day for Nifty to struggle to break 15,800 for upside but there is an support at 15,748 levels and until it breaks towards downside Nifty will trade in range bound or bullish.
So direction in Nifty only decide when it breaks the range of 15,800 to 15,748 to any side until that expect today a range bound moves in between that.
We are mentioning the Bank Nifty resistance level which is 35,715 from many days as yesterday also it rejected so breaking that level will be an signal for Bank Nifty to move higher and 35,500 will be support if it breaks then expect it to 35,370 and again if it breaks then 35,500 will be the major support.
Today is an Wednesday so expect erosion moves and its better mark the support and resistances and trade with that by taking confirmation from weightage stocks.
All The Best , Trade With Discipline.