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59. Pre Market Analysis - Feb 18 , 2021

  1. Nifty closed in 100 points negative and Bank Nifty closed in 187 points negative.

  2. Out of all weightage stocks , Reliance is the only which gave support to Nifty yesterday.

  3. HDFC twins dragged 66 points on Nifty and IT , FMCG , Metal , Pharma under performing

  4. DIIs continued the selling of second straight day.

  5. DIIs sold 1283.38 crores which more than FIIs bought , as FIIs bought only 1008.2 crores.

  6. Yesterday market played with huge volatility, Nifty fell 130 points from yesterday closing price and shotup 100 points from days low and again fell 130 points from intraday high but closed with 100 points negative and this was an very huge volatile .

  7. Nifty Bank started making resistance and supports for upcoming days.

  8. Any bulls rally can expect only if Bank Nifty above 37,500 and bears rally can expect only below 36,500 until Bank Nifty will trade in between the range of 1000 points only.

  9. Coming to global markets :- yesterday US and UK markets are closed with negative bias.

  10. Currently Dow Jones , Nasdaq and UK Futures are trading in positive.

  11. All Asian Markets are trading higher except Hang Sang ( Hong Kong market).

  12. SGX Nifty is up by 34 points as of now.

  13. Coming to India :- Today our markets may open with flat in positive based on SGX Nifty and global markets clues.

  14. Nifty is taking a strong at 15,330 so untill it breaks that level Nifty may consolidate or correct for next coming days.

  15. Today expiry will be very interesting as we can expect sudden unexpected moves in the market.

  16. This is not a market where we can trade with naked quantities , this is the market where we have to go with less quantities and taking more opportunity at every rejection so dont trade with hurry , stay away when you didnt get right opportunity.

  17. The One who is looking for support and resistances based on OI data:- Nifty will closed below 15,300 by today for sure due to highest OI added on that strike price and we may see support at 15,100 and 15,000.

  18. For Bank Nifty Watch out 37,000 and 37,500 for any upside move and for downside move watch 36,500 and 36,000.

All The Best , Trade With Discipline.


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