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7. Pre Market Analysis - Dec 2 , 2020

  1. Yesterday Nifty gained 140 points and crossed the major resistance 13k , it looks like buyers are not leaving their hand

  2. FIIs pumps 11,337.25cr in single day . very good start of first day of this month

  3. Day by Day FIIs creating records and they are not willing to give up

  4. Still We can expect bullish untill FIIs buyers give up their hand

  5. New rules SEBI impacted the volume as we expected that , the one who observes yesterdays market in live, I think they already got the point on volumes , its an clear signal that stocks are trading with less volumes due to SEBI rules

  6. The one who is trading with volumes , I think they are still confused for taking the trades

  7. Market will change every time , we can't strict to one strategy and one pattern. we need to upgrade ourself according to the market otherwise the chances of loosing money is high

  8. Coming to Global Market :- Yesterday US market closed higher but currently Dow Jones Fut trading in negative

  9. Asian markets are negative

  10. Sgx Nifty touched 132000 yesterday but today it opened with gap down and trading with 50 points negative

  11. Coming to india - All sector stocks performed well yesterday but HDFC bank and KOTAKbank closed negative from Banking sector

  12. after long time Reliance performed well yesterday

  13. Nifty is at All Time High if it touches ATH today, for sure it will correct atleast one time or consolidate for sometime then it will break

  14. But today our market might be open Gap-down based on Global Markets

  15. Today is Wednesday , one day before the expiry ,usually market will be high volatile in the Wednesday's and premium erosion will be there so be cautious

  16. Due to SEBI new rules volatility will be less but erosion will be happen very fast

  17. Bank Nifty is having an Crucial Resistance at 30k and if it breaks definitely we can expect 200 to 300 points up but as we are expected today our market will open gap down

  18. The One Who are looking for OI data - Nifty 13400ce and 13500ce added more contracts and 13100pe , 13200pe is added more contracts

  19. For Bank Nifty 30000ce is the crucial resistance which is having high OI in this week expiry and 29500 is the crucial support which is added more contracts of this week expiry

All The Best , Trade With Discipline

BONFIRETRADER

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