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26. Pre Market Analysis - Dec 30 , 2020

  1. Nifty made fresh record high.

  2. Bank Nifty broke 31k and opened gates for a new rally.

  3. Financial sector performed very well yesterday.

  4. As we said yesterday on Nifty at 14k levels . Yesterday Nifty almost touches 14k then it fell 100 points in less time.

  5. When we are touching fresh ATH everyday so expect atleast one correction on the same day itself.

  6. FIIs giants back to action by pumping 2,350 crores and As usual DIIs sold 2,020 aggressively.

  7. Reliance is struggling to break 2000 and if it breaks 2000 then definitely it will rally more than 100 points but we are not expecting that rally by this year.

  8. Our Indian markets always gives surprise on the occasions or else they we close with complete narrow range and its very interesting to watch the market of last 2 days of the year.

  9. Major of the weighted stocks for Nifty took Back seat except Financial stocks and Lets see what happen today.

  10. Coming to Global Markerts :- US markets closed lower yesterday and currently Dow Jones Fut trading flat as of now.

  11. All Asian Markets are mixed.

  12. SGX Nifty flat opening made us to take breathe before rally.

  13. Coming to India :- Our Markets still looks bullish but the chances of profit booking will be high due to year end factor.

  14. Nifty will struggle to make a move towards upside when it touches 14k.

  15. Bank Nifty looks very strong and it may reach upto 32k if same action continue from banking stocks.

  16. The One who is looking for Open Interest data :- 14k will be crucial resistance for Nifty based on OI Data and 13500 will be crucial support and 13,900 & 13,800 will be the nearest supports for Nifty.

  17. Bank Nifty had a resistance at 31,500 and next resistance is at 32k and 30,500 will be the crucial level for Bank Nifty.

  18. The Overall sentiment for market is bullish but expect some divergence between Nifty and Bank Nifty due to lack of action from Reliance and expect some consolidation before making any bigmove.


All The Best , Trade With Discipline .

BONFIRETRADER

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