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171. Pre Market Analysis - 02 Sep 2021

  1. Markets started taking rest by getting into consolidation phase where as IT ,Metal stocks started booking their profits.

  2. Nifty fell 55.90 points , Sensex was down by 214.18 points and Bank Nifty shot up 149.70 points.

  3. looks like IT stocks started booking their profits but it was minor correction but if you see Nifty out of 55 points fall , only IT stocks alone contributed 47 points .

  4. FIIs continued to pump their money with 666.66 crores and DIIs started booking their profits as yesterday also they tanked 1287.87 crores.

  5. Whenever FIIs on positive side then bank nifty always close in positive and that will be an hint for us that they are pumping in weightage banking stocks.

  6. We are done with 1st day of September month but premiums are moved with 5 to 10 rs range which was very volatile and we are already uploaded a video in you tube on yesterday on how to place the order in this volatile market , go and watch it and always use sl order to exit to save your risk.

  7. Nifty started getting into consolidation phase and that is also good for us because continues rally is not good for market so let it consolidate for some more days.

  8. Yesterday Bank Nifty touched 37k mark but due to huge OI as it got reversed and closed at opening price.

  9. Coming to global markets :- last night U.S and U.K markets closed at flat and currently Dow Jones Nasdaq and U.K futures are trading at flat.

  10. Most of the Asian markets are trading in green.

  11. SGX Nifty is up by 22.5 points as of now

  12. Coming to India :- Today we may open with flat in positive based on SXG Nifty and global clues.

  13. If markets open with gap-up then we may see one round of sell off in the morning and after that it will move based on data.

  14. Today is the first expiry after SEBI new rules so markets may add more volatile now so expect range bound with wild moves.

  15. Nifty 17,200 CE and 17,000 PE was added huge OI so it may in between that range and also based on chart 156,946 is an support for Nifty and resistance at 17,221 which is ATH.

  16. Bank Nifty 37k may test again by today if HDFC Bank supported and also bn crossed 36,500 so now it will act as support and today if it come below 36,500 then 36274 will act a support and next 36,000 will be support level.

  17. Overall view is range bound with wild moves and if bn fails to hold above 36,500 then we may see some fall in the afternoon session.

All The Best , Trade With Discipline.

Wishing You A Profitable Day.


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