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83. Pre Market Analysis - April 06 , 2021

  1. Nifty fell 230 points and Sensex fell 870 points and Bank Nifty fell 1179 points on yesterday.

  2. IT and Metal stocks are the only stocks closed in green out of 50 stocks in Nifty 50 and Britannia closed in positive due to the company declared the interm dividend.

  3. Banking stocks fell more than 3% each and HDFC , Kotak Bank fell 2.5% .

  4. FIIs again came to selling side by pumping 931.66 crores and DIIs just bought 75.48 crores.

  5. Yesterday India VIX raised to almost 23 and closed at 21.3 which indicates bearish market.

  6. The main reason for yesterday fall is raise of new corona cases in India and Maharashtra government put some restrictions in their state and we already Maharashtra is the number one state who contributes highest GDP in India and obviously it will effect to Indian economy.

  7. Remember Panic will always create big impact on investors instead of excitement .

  8. We already mentioned about this fall in yesterdays pre market analysis as markets will react to corona cases but it wont crash like March 2020 and this is the right time to buy the stocks at every lower level .

  9. Coming to global markets :- yesterday US markets closed at record high and UK markets closed with positive bias.

  10. Currently Dow Jones , Nasdaq and UK futures are trading at lower.

  11. All Asian markets are trading at lower.

  12. SGX Nifty is down by 18 points as of now.

  13. Coming to India :- Today we may see flat opening in our markets based on SGX Nifty and global clues.

  14. Bank Nifty is taking support of March 25 low and once it breaks then we can expect another 1000 points on Bank Nifty and Nifty is taking support at 14,500 level and still 230 points is there to reach March 25 low for Nifty .

  15. If our markets fell in the morning session like yesterday then afternoon we may see short covering moves so better if you make money in the market always protect your profits and try to stay away from the markets in the afternoon.

  16. Keep a eye on high weightage stocks and any fall happen on those stocks , we may see big fall in index .

  17. IT stocks performing well due to results ahead in next week.

  18. The one who is looking for support and resistances based OI data :- Nifty had a resistance at 14,800 and 14,900 and strong support at 14,500.

  19. Bank Nifty had a nearest resistance at 33k and far at 34k and support at 32,500,if it breaks then we may see severe fall.


All The Best , Trade With Discipline.

BONFIRETRADER

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