147. Pre Market Analysis - July 19 , 2021
Markets closed at flat on Friday but with 1week time frame it was positive closing week only.
Where as Nifty made fresh record high but closed with a loss of just 0.80 points which is flat , Sensex lost just 18 points and Bank Nifty fell 156 points.
FIIs sold 466.3 crores and DIIs bought 666.07 crores in cash market.
Markets are not making big moves even at ATH due to weak performance by FIIs and another reason is that , only few stocks are supporting to the market so until and unless these two satisfy markets will go with consolidation or downside only.
HDFC bank bank declared the results , as usually it came with positive results only but investors expectations didn't reached so lets see what they will do now on HDFC bank .
Reliance bought almost 40 to 50% stake on Just Dial so we may see some action on these stocks today.
Today HCL Tech and HDFC Life are the two stocks which is set to declare the results from Nifty 50.
Now onwards markets will be very interesting because we are done with 3 week series in July and only 2 weeks left and we have only 2 days to go for this week expiry due to holiday on Wednesday and at the same time many Nifty 50 stocks are declaring their results in this two weeks so markets will give single direction move on this week or next week with huge volatility.
Coming to Global Markets :- Friday U.S and U.K markets closed at lower and Currently Dow Jones , Nasdaq and U.K futures are trading at lower.
All Asian markers are trading in deep red due to rise in Covid cases .
SGX Nifty fell 229 points as of now which is a very huge fall .
Coming to India :- Today our markets going to open with huge gap-down based on SGX Nifty and global markets clues.
Crude price came below 73 but USD/INR rising and entire global markets are bleeding so today will be clear sell on rise markets but the only hope is that HDFC Bank and Reliance are in positive news so they may support the support if they starts fall then markets will bleed today.
Nifty is protecting at 15,748 once it break down then markets will fall more and next support will be 15,680 .
If it is huge gap-down then markets may correct up to some place then it may fall again otherwise we will see the continuation fall in first hour and next whole day it will be range bound.
Looks like Bank Nifty may break 35,000 today and if it open below 35,370 then 35,000 will be the good support and if it breaks 35,000 then fall will be drastic for Bank Nifty.
Finally over all view is sell on rise market so don't be on bullish side today and every rise will be sell off today if you cant capture the move then try to wait for consolidation and take breakout entry.
All The Best , Trade With Discipline .
Wish You A Profitable Day.