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8. Pre Market Analysis - Dec 3 ,2020

  1. Nifty Near to All Time High and chances of reversing will be high

  2. Bank Nifty still 10% lower from All Time High

  3. Yesterday Nifty recovered the complete fall which is happened in the morning session and closed with positive . but bank nifty didn't recovered the fall and it closed with negative

  4. it requires lot of volume to break ATH of nifty , before going to break it for sure it will consolidate for sometime then it will break if reliance gave support to Nifty

  5. Yesterday Auto , Metal , IT stocks performed well

  6. Banking stocks took back seat yesterday , In Nov month already Banking rallied a lot now its time for correction or consolidation before going to continue the rally

  7. Bank Nifty is struggling to break 30k

  8. Coming to Global Market - US Market closed flat yesterday and currently Dow Jones Fut trading flat with negative

  9. Asian Markets are trading with little bit negative

  10. Sgx Nifty trading flat with negative as of now

  11. Coming to India - Today our market will open flat based on Global Market clues

  12. FIIs again pumped 357 crores yesterday but DIIs sellers sold 1600crores aggressively , DIIs are not leaving their hand

  13. If Reliance and IT stocks continue the same action like yesterday , definitely Nifty will breaks All Time High today but Nifty is waiting for Bank Nifty action

  14. One Who is looking for Open Interest Data :- Nifty is having an crucial resistance at 13,200ce which is carrying high OI and 13,300 and 13,400 will be next resistance

  15. For put option data 13,000 is the only support for Nifty which was seen at more contracts for this week expiry

  16. For Bank Nifty - yesterday major stocks like HDFC bank , KOTAK bank, ICICIbank closed with negative , untill they get into action its difficult for bank nifty to break 30k

  17. Its an interesting expiry today , Nifty is All Time High but Bank Nifty is weak ..Lets see what happens today


All The Best , Trade With Discipline

BONFIRETRADER

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