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44. Pre Market Analysis - Jan 28 , 2021

  1. Nifty fell 270 points and Bank Nifty fell more than 900 points on Wednesday.

  2. Heavy stock like HDFC twins , Reliance , ICICI Bank , Kotak Bank , Infy , Axis Bank fell very badly.

  3. HDFC Twins and Reliance alone contributed 125 points out of 270points fall.

  4. Few days back we said one statement about markets that "Trending market is always unhealthy to us" and now you people understood that statement.

  5. FIIs keep on buying from past 4months without failing and even Nifty shot up more than 25% in 3months and now all FII buyers started booking their profits , our markets started falling from past 4 days without single dip.

  6. They pumped till budget and now 1week before the budget they started booking their profits very fast as we can see yesterday FIIs sold 1688.22 crores and DIIs just sold 3.38 crores.

  7. So its an clear reversal signal on our markets and all global markets are falling along with us and budget is there , banking stocks results was not coming as per expectations so all these reasons helped FIIs to book their profits.

  8. Yesterday Axis bank results didn't came as per expectations but HUL & Bank of Baroda came with good results.

  9. Today Maruti is the only stock from Nifty 50 which is declaring the results.

  10. Coming to global markets :- US markets fell very bad yesterday , while Apple , Face book declared good results but share price fell yesterday and Tesla fell more than 5% as their results didn't came as per expectations.

  11. US markets heavy stocks fell alot and it made panic to all Asian markets investors.

  12. All Asian markets are trading lower as of now.

  13. SGX nifty down by 120 points as of now.

  14. Coming to India :- Today our markets will open with huge gap down based on SGX Nifty and global markets clues .

  15. Its an pure sell on rise market and every rise towards upside will be sell off today.

  16. Nifty broke all previous supports and mainly 14k also taken out so any fall will be an not surprise to us and Bank Nifty had a support at 30k once it broken then one more free fall for bank Nifty.

  17. The One who is looking for support and resistances based on OI data :- Nifty had a strong resistance at 14,100 & 14,200 and support at 13,900 & 13,800 and if 13,800 will breaks then it will fall more.

  18. bank Nifty had a resistance at 31k and support at 30k , if it breaks 30k then support will be at 29,500.

  19. Market is playing with very huge volatile so go with less quantities and book more profits on these kind of markets.


All The Best , Trade With Discipline.

BONFIRETRADER

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