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76. Pre Market Analysis - March 24 , 2021

  1. Yesterday Nifty closed with 78 points with the help of banking stocks and reliance.

  2. Yesterday interest on interest was out and supreme courts order against granting interest wavier and extension of moratorium period .

  3. Banking stocks performed well after supreme courts decision and helped to Bank Nifty and Nifty to close in green.

  4. FIIs and DIIs were both on selling side with less number yesterday as FIIs sold 108.24 crores and DIIs sold 529.69 crores .

  5. 2 days back Brent Crude was at 64.5$ but now it came to 60$ and US 10 years bond came to 1.605 . and all these are positive sign for our markets .

  6. But the only thing is on one hand global markets are getting weak day by day and they are not supporting and on the other border stocks are performing well but Weightage stocks are under performing and this is completely unpredictable.

  7. Coming to global markets :- US and UK markets are closed negative and currently Dow Jones , Nasdaq and UK futures are trading at lower.

  8. All Asian markets are trading at lower.

  9. SGX Nifty is down by 72 points as of now.

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

  11. we have 2 days to finish this march series and till now we are in red from march starting and seems these 2 days also markets are showing to close in negative.

  12. We are sitting with domestic good news and global weak clues so expect wild moves on our markets today and today is Wednesday so expect high volatile moves.

  13. The one who is looking for support and resistances based on OI data :- Nifty 14,800 CE and PE was added almost same OI and it indicates that Nifty didnt make any big moves on side and it will close below 14900 and above 14750 according to data and if any fall happen then they may change their plan.

  14. Bank Nifty will trade in between 34,500 to 33,500 and if it breaks to any oneside then it may give a very good moves.


All The Best , Trade With Discipline.

BONFIRETRADER

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