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80. Pre Market Analysis - March 31 , 2021

  1. Yesterday was the biggest gain for our markets in single day of this entire march month.

  2. Nifty gained 337 points and closed above 114,800 level and Sensex gained 1128 points and closed above 50k level.

  3. Bank Nifty gained 556 points and HDFC Bank and ICICI Bank are the only stocks contributed 516 points for Bank Nifty .

  4. Nifty IT , Metal , Pharma , FMCG stocks are one of the biggest gain of this month as they closed more than 2% each.

  5. IT sector is the first sector which announces the quarterly results so we may some bullish rally on IT stocks and this is the best time to buy IT stocks at lower levels .

  6. FIIs and DIIs were both on buying side on yesterday as FIIs bought 769.47 crores and DIIs bought 2181.01 crores.

  7. Today is the last day of 2020 -21 financial year so expect one of the high volatile day today and we may unexpected moves with huge volatility and yesterday also markets rallied due to this reason only even US bonds are rising our markets are played on bullish side.

  8. Coming to global markets :- US markets closed lower due to rise in bonds and UK markets closed at higher.

  9. Currently Dow Jones , Nasdaq and UK futures are trading at flat.

  10. All Asian markets are trading at lower.

  11. SGX Nifty is down by 78 points as of now.

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

  13. Consider last of financial year and one day before the expiry and US bonds rise and weak global clues so today is the interesting day of our markets .

  14. If markets open with gap-down then it will continue the selling rally of first few minutes and after markets will take support from lower levels and bounce back with sharp moves and based on UK market opening afternoon moves will be decided or if big fall happen in the morning then markets go to consolidation in the afternoon.

  15. But expect some divergence between Nifty and Bank Nifty as Nifty is strong with IT and Reliance so we may see some wild moves with high erosion on Bank Nifty and strong one side moves on Nifty and better small players stay away and trade on individual stocks because this is not a market for small retailers.

  16. The one who is looking for support and resistances based on OI data :- Nifty had a resistances at 14,900 and 15,000 and support at 14,600 and 14,700.

  17. Bank Nifty had a crucial resistance at 34,000 and support at 33,500 and 33,000.


All The Best , Trade With Discipline.

BONFIRETRADER

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