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22. Pre Market Analysis - Dec 23 , 2020

  1. Markets are trading with very huge volatile.

  2. Yesterday Bank Nifty fell 700 points from intraday high and recovered in the after session.

  3. Nifty fell 240 points from intraday high and shot up by 260 points in the afternoon session.

  4. Everyone is getting nervous due to Monday's fall so that is one of the factor for volatility.

  5. All IT stocks performed very well and some stocks touched ATH.

  6. FIIs bought 1153 crores and DIIs sold 661.51 crores. They are reducing their investments due to year end factor.

  7. Wipro buyback shares offer will open on Dec 29 and close on Jan 11 . The company signed a strategic digital and IT deal with METRO AG.

  8. Coming to Global Markets :- Yesterday US markets closed lower , Currently Dow Jones Fut Trading lower.

  9. All Asian Markets are mixed.

  10. SGX Nifty down by 45 points as of now.

  11. Coming to India :- Today our markets will gap - down based on global markets clue.

  12. Weightage stocks like HDFC bank , Reliance , Kotak Bank are not supporting to Nifty and Bank Nifty.

  13. Yesterday only IT stocks contributed more than 40% in Nifty.

  14. One day before the expiry so expect the same volatility like yesterday.

  15. This is not a good market for small players so better stay away or go with less capital if you cant handle this volatility.

  16. We have lot of opportunities in the coming days so when you see these kind of markets then play on both sides rather than holding the positions on one side.

  17. The one who is looking for Open Interest data :- This expiry market will close below 13,800 for sure based on OI data . 13,600 will be the nearest resistance.

  18. For Put options , Market will take support from 13,300 and 13000 levels based on OI data.

  19. Bank Nifty had a resistance at 30500 and support at 29000 based on OI data.


All The Best , Trade With Discipline.

BONFIRETRADER.

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