53. Pre Market Analysis - Feb 10 , 2021
Yesterday till 02:30 P.M, Nifty sitting at ATH with a gain of 125 points but a sudden profit booking made Nifty to close 6 points negative by the end of the day.
Nifty fell 190 points in just 20mins from intraday high and it was indication of profit booking, but we cant confirm with one day fall so we should wait and watch for todays market .
Bank Nifty fell 550 points from intraday high.
Auto , Metal , IT , Pharma stocks which drags Nifty .
After long time FIIs Bought less than DIIs sold .
FIIs bought 1300.65 crores and DIIs sold 1756.24 crores.
Today 4 stocks from Nifty 50 , i.e., Eicher Motors , Gail , Hindalco , Titan are declaring their results.
More than 50% stocks from Nifty 50 made 52 weeks high and some stocks like ICICI Bank made fresh ATH.
Yesterday we already discussed some levels and now Reliance near to 2000 level and if it taken out then Nifty some rally on Nifty and at the same time track some weightage stocks like HDFC twins , Kotak bank , Infy , ITC , ICICI Bank etc..
Coming to global markets :- US markets and UK markets are closed with mixed.
Currently Dow jones , Nasdaq and UK futures are trading with positive bias.
All Asian markets are trading higher .
SGX Nifty up by 50 points as of now.
Coming to India :- Our markets may open with gap-up today based on SGX Nifty and global markets clues.
Put premiums are higher than call premiums so for adjusting the premiums we may see some wild moves today and usually one day before the expiry , markets will play with huge volatility so be cautious while booking the profits.
If our markets open with gap-up then expect some little bit profit booking at higher levels so that profit booking may bring our markets to down side and better wait for right opportunity.
The one who is looking for support and resistances based on OI data :- Nifty had a resistance at 15,200 and 15,300 and support at 15,100 and 15,000.
Bank Nifty had a resistance at 36,500 and support at 36k and 35,500.
All The Best , Trade With Discipline.