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54. Pre Market Analysis - Feb 11 , 2021

  1. Markets started consolidation with huge volatile.

  2. Yesterday Nifty fell 160 points from intraday high and from low it reversed and shot up 130 points and again it fell 160 points and made new low and from days low it shot up 160 points , this is very huge volatile and this is the market where many people stoploss got triggered.

  3. Bank Nifty fell 800 points from intraday high and closed with 273 points negative.

  4. Reliance trying to break 2k and once it break then Reliance and Nifty may go up .

  5. HDFC Bank , ICICI Bank , Axis Bank under performing.

  6. We already rallied 20% in just 5 days so this is the time to book profits or to consolidate for some days.

  7. Even FIIs bought the as usual number with 1786.97 crores but DIIs sold aggressively more than FIIs with 2075.68 crores.

  8. If FIIs reduced their investment and DIIs continue their selling then we may see big correction by today or next coming days so their number might effect to our market.

  9. Today Nifty 50 stocks - Focus on ITC , Coal India , Power grid as they are declaring their results.

  10. Coming to Global markets :- US markets closed little bit lower and even UK markets closed little bit lower .

  11. Currently Dow Jones , Nasdaq and UK futures are trading lower.

  12. All Asian markets are mixed .

  13. SGX Nifty opened with gap-down of 100 points but now it is trading at 60 points lower.

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

  15. DIIs number is more than FIIs and heavy weightage stocks like HDFC Bank , ICICI Bank , Axis bank under performing and many call side strikes OI added and markets are playing with huge volatile as premiums also very high.

  16. Nothing is favor to bullish markets so expect our markets to be in consolidation or correction with huge volatility.

  17. If our markets open with huge gap-down then wait for some time to confirm the direction then play according to that and remember to is an expiry day so markets continue the high volatility.

  18. The one who is looking for support and resistances based on OI data :- for Nifty from 15,100 to 15,400 CE was added more contracts which will act as strong resistances so expect some less moves towards upside today and support at 15k and if it breakdown then expect some fall.

  19. Bank Nifty can expect any upside above 36k and next resistance at 36,500 and fall can expect below 35,500 and next support at 35k.


All The Best , Trade With Discipline.

BONFIRETRADER

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