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18. Pre Market Analysis - Dec 17 , 2020

  1. Nifty made new All Time High yesterday

  2. Yesterday all Banking stocks under performed except HDFC bank

  3. HDFC twins performed well

  4. HDFC bank alone contributed 143 points to Bank Nifty but remaining all banking stocks under performed

  5. Its very hard to break 31k for Bank Nifty until Banking stocks came into the action

  6. Reliance is still under performed but nifty is making ATH everyday , if we see any action in Reliance then Nifty will reach 13800 easily

  7. Nifty Auto , IT , NBFC stocks performed very well

  8. NBFC stocks performing very well from few days

  9. Coming to Global Markets :- US market closed lower yesterday and currently Dow Jones Fut trading in positive

  10. All Asian Markets are slightly lower

  11. SGX Nifty down by 40 points as of now

  12. Coming to India :- Today our will slightly open flat in negative

  13. Everyday Nifty was making New highs and correcting on the same day , closing near at higher levels

  14. Always be cautious at Higher levels. The chances of consolidation or correction is more

  15. we have only 10days to finish this year and today is the 3rd expiry day of this Dec series, so expect some odd moves with huge volatility

  16. Bank Nifty will make both side moves today until it breaks 31k

  17. The one who is looking for Open Interest Data :- Yesterday more OI added at 13750ce which will act as strong resistance by today and 13,700 & 13800 will be the next resistances

  18. For Put options data - Only yesterday 24lakh contracts added at 13600pe which will act as crucial support by today and 13650 will be the next support

  19. Bank Nifty had strong resistance at 31k and support at 30500


All The Best , Trade with discipline

BONFIRETRADER

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