top of page

58. Pre Market Analysis - Feb 17 , 2021

  1. Yesterday Nifty hit fresh ATH by opening with gap - up and it failed to hold at ATH , as it fell 180 points from intraday high and closed at Fridays closing price.

  2. Reliance , Kotak Bank , HDFC Bank and some metal stocks which gave support to Nifty and few weightage stocks like ICICI Bank , Axis Bank , Infy , TCS which drags Nifty very badly.

  3. Finally Nifty closed with 1 points negative and we can called it as flat closing only due to no points gain or loss .

  4. Bank Nifty closed with 207 points negative and Axis bank , ICICI Bank dragged 290 points.

  5. Kotak Bank made fresh All Time High yesterday .

  6. When market is making fresh record highs everyday , people tries to take positional trades by seeing ATHs but that is not an good habit for a trader to place at ATHs.

  7. A good trader will place his orders at swing lows rather than placing at new highs because at higher levels there will be always selling pressure so think before you take positional trades.

  8. Yesterday FIIs bought less than DIIs sold as FIIs bought 1144.09 crores and DIIs sold 1559.53 crores.

  9. Coming to global markets :-yesterday Dow Jones hit fresh record high and Nasdaq closed with negative bias and UK markets closed at flat.

  10. Currently Dow Jones , Nasdaq and UK futures trading with negative bias.

  11. All Asian markets are trading at negative.

  12. SGX Nifty is down by 90 points as of now.

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

  14. Consider Yesterdays closing price as support and once it breaks then the chances of upside move is less.

  15. DIIs selling number is more than FIIs , global markets are weak , one day to go for expiry and however we are sitting at ATHs and there is no point to expect further bullish rally untill we see some action on weightage stocks.

  16. Expect markets to correct or consolidation on next couple of days.

  17. The one who is looking for support and resistances based on OI data :- Nifty 15,400 and 15,500 CE was added more contracts which will act as strong resistances and 15,300 and 15,200 will be the nearest supports.

  18. Bank Nifty had a resistance at 37,500 and support at 37k , 36,500 and any of these levels breaks then expect some rally or fall .

All The Best , Trade With Discipline.


43 views0 comments

Recent Posts

See All

Markets started taking rest by getting into consolidation phase where as IT ,Metal stocks started booking their profits. Nifty fell 55.90 points , Sensex was down by 214.18 points and Bank Nifty shot

Markets continued the bullish rally by another day and led by Bajaj twins , TCS, HDFC twins , Bharti airtel , Asian paints etc.. Where as Nifty jumped 201.20 points , Sensex rallied 662.63 points and

Markets continued the bull run off the week with an aggressive kick start where Nifty and Sensex made new records high. Nifty jumped 225.80 points , Sensex rallied 765.04 points and Bank Nifty gained

Post: Blog2_Post
bottom of page