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163. Pre Market Analysis - Aug 18 , 2021

  1. Fourth straight day for Nifty to close at record high with a help of FMCG & IT stocks.

  2. Where as Nifty gained 51.55 points to 16,614.60 , Sensex shot up 209.69 and Bank Nifty closed with a loss of 227.10 points.

  3. Bank Nifty fell almost 400 points in the morning half but recovered half of the fall in the second half and took strong pullback at 35,800 to 35715 area so this is an indication that still bulls are alive.

  4. We hope everyone knew about Hitler in British as he always give steroids to their soldiers to fight in the war and after taking that steroids ,soldiers got too much aggressive and kill everyone and they don't care about damages or anything , their target is to kill everyone and

  5. Now Looks like Nifty IT took steroids where they are not bothering about global clues or domestic clues or anything , they are just flying like soldiers and if they continue with this aggressive then no one will stop Nifty to reach 17k in coming days.

  6. However FIIs selling number is just 343.73 crores which is normal and DIIs bought 266.43 crores.

  7. RBI allows HDFC Bank to issue new credit cards which is very positive news for HDFC Bank and they lost lot of money due to that restriction from NOV 2020 and now they will recover all the loss and that will impact on the stock so HDFC Bank may trigger right now and if short covering also added then we may see Bank Nifty at ATH soon.

  8. Coming to Global markets :- Last night Dow Jones fell more than 450 points but closed with a loss of 282 points and U.K markets closed with flat.

  9. Currently Dow Jones , Nasdaq and U.K futures are trading at flat.

  10. Asian markets are positive.

  11. SGX Nifty is up by 24 points as of now.

  12. Coming to India :- Today our markets may open with gap-up based on SGX Nifty clues.

  13. If markets open with huge up then expect one sell off round due to yesterday's Dow close and if it less gap-up then markets may go with buy on dips and after that it will go based on weightage stocks move.

  14. Keep a eye on HDFC Bank today until it turn red Bank Nifty will be bullish only and if Bank Nifty breaks 36,293 levels then we may see 500 points rally on upside.

  15. Nifty still looks bullish and next resistance will be 16,800 and support will be 16,547.

  16. Bank Nifty support will be 35,800 and 36,000 and resistance at 36,293 once it breaks then we may see one side rally.

  17. Overall view is bullish and also today is an expiry day so we may see this rally with expected volatile .

All The Best , Trade With Discipline.

Wishing You A Profitable Day.


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