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159. Pre Market Analysis - Aug 12 , 2021

  1. After longtime Markets proved their Wednesday volatile and finally closed on a flat note with a help of Metal stocks & Big giant Reliance where as Banking , Pharma , Financial , select FMCG ,IT stocks dragged it.

  2. Nifty fell 190 points from intraday high and recovered 110 points from days low and Bank Nifty fell 700 points from intraday high but recovered just 250 points from low.

  3. All metal stocks shined due to business increase from China and where as U.S metal index too shot up 6% on previous day and all these boosted metal stocks.

  4. FIIs and DIIs were both on buying side where as FIIs bought 238.14 crores and DIIs bought 206.28 crores in cash market.

  5. Yesterday BSE came up with circular about small cap & mid cap stocks and that too selected stocks so the impact will be less on other stocks but the way panic was creating on investors made remaining stocks to trigger off.

  6. Looks like markets are behaving very violently and as we are witnessing this from past 3days and now we need to adopt this volatile market and as a options buyers we need to cautious while deploying the capital on each trade in the volatile market so we suggest to deploy less in the volatile market and that's safe too.

  7. There is nothing to discuss much and purely it was range bound moves as we keep on telling , we need to respect the market and scalp few points as per the moves but we are seeing both fall & recover in the same day itself and it was happened on April & May month and now it is happening again so its better to be on both sides rather than looking for trendy day.

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

  9. Asian markets are mixed.

  10. SGX Nifty is up by 28 points as of now.

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

  12. Bank Nifty had a crucial zone at 35715 too 35800 and last one week it was dancing at that level so it should below 35715 with one day candle strongly for bearish and until that we are expecting range bound moves and as usual scalp on both sides in this volatile market and finish it on your style and

  13. This is the market where many people will loose their money and trust us you will see the same volatility on everyday from September so adopt this and move on.

  14. Today is an expiry day so we are expecting odd moves on both sides as like previous days and stay cautious at 35715 for Bank Nifty and 16207 to 16,180 for Nifty .

  15. Nifty may trade today in between 16350 to 16180 and Bank Nifty 36,285 to 35,715 and breaking any side with volume will be an directional move.

  16. Overall view is range bound with wild moves and respect to the levels and deploy the capital based on your risk.


All The Best , Trade With Discipline.

Wishing You A Profitable Day.

BONFIRETRADER


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