150. Pre Market Analysis - July 26 , 2021
Friday Markets recovered THE first hour fall and closed at higher levels.
Where as Nifty gained 32 points , Sensex raised 138.59 points and Bank Nifty rallied 357.10 points .
Select Financial , IT and ITC stocks out performed and few weightage stocks are still under performing which are Reliance , HDFC Twins etc..
As usual FIIs continued the selling number by tanking 163.31 crores and DIIs crossed 2k mark by pumping 2187.80 crores in cash market.
Reliance , ITC , ICICI Bank came with good results so we may see some action in those stocks today and
Today AXIS Bank , KOTAK Bank , L&T , SBI Life , Tata Motors are set declare their results so keep a eye on them.
We are in the last week of this month and last four weeks markets traded in wide range and we don't think markets may give a breakout by this week too and mainly bank Nifty chances is very less so expect range bound moves only by this week but the volatility will be very very high and due to monthly expiry we may see wild moves by this week.
This week most of the Nifty stocks are declaring their results and mainly Reliance , ITC , ICICI Bank already came with good results and today some of the weightage stocks are declaring and Nifty is near to ATH again so chances of breaking ATH is more .
Coming to Global markets :- Friday U.S and U.K markets are closed in positive and Currently Dow Jones , Nasdaq and U.K futures are trading at lower.
Most of the Asian markets are trading at lower.
SGX Nifty is down by 103 points as of now.
Coming to India :- Today our markets may open with gap-down based on SGX Nifty and global clues.
Looks like global markets are going to spoil our markets but if markets open with huge gap-down then expect recovery quickly with a support of ICICI Bank and Reliance .
Few levels which we need to keep a eye before trading on Nifty and Bank Nifty where as Nifty need to break 15,920 levels with huge volume for upside rally and downside if it breaks 15,748 levels then fall can be up to 15,700 and next 15,637.
Bank Nifty is at crucial level and today if it open below 35,000 then again it will be difficult to break 35,000 level and also 34,400 is an strong support which is an Fridays low .
Finally remind one thing , global markets are weak but we are sitting with positive results so we will follow global market only for opening and after that we will go based on our stocks performance and we are expecting recovery after gap-down due to positive results so don't be on selling side based on global and avoid opening trades due to mixing clues and any fall happen if markets breaks the respected levels and check 14,15 points for levels.
All The Best , Trade With Discipline.
Wishing You a Profitable Day.