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84. Pre Market Analysis - April 07, 2021

  1. Yesterday Nifty closed flat with a gain of 46 points and Sensex closed with a gain of 42 points .

  2. Bank Nifty closed fell 178 points yesterday.

  3. SEBI new rule : there is no limit for placing the order for intraday , it means you can place unlimited order in single time and now volatile will be more .

  4. Observe yesterday Bank Nifty as it opened with a gap up of 200 points and fell 650 points in 3mins of opening and bounced back 550 points and again fell 600 points and finally closed with 178 points loss.

  5. Markets continue this volatile forever so we need to upgrade ourself how to trade with this volatile market and the best to make money on volatile market is averaging the positions.

  6. Yesterday FIIs sold 1092.75 crores and DIIs bought 416.59 crores.

  7. Our markets are under performing mainly due to raise of corona cases but our markets are not falling severely due to the support from strong global markets as global markets are performing well , mainly US markets.

  8. Yesterday Adani ports shot up 15% in single day and Adani started with a price 0f 150rs in 1995 but now Adani separated as 5 stocks and now every stock from Adani gained ore than 300% from last 3years

  9. Today Focus on Tata steel , Reliance , Bharti Airtel as they are in news and as usual we already focused on IT and Metal stocks due good performance from many days we no need to mention that.

  10. Today we have more important day , i.e., RBI policy announcement , Many people are predicting that RBI maintain the status quo so lets wait and see what they will announce and at the same time focus on their statements and comments as that will also impact our market.

  11. Better stay away today until RBI declare the policy and focus other stocks which is mentioned above line.

  12. Coming to global markets :- US markets closed with flat in negative and UK markets closed with flat in positive.

  13. Currently down Jones , Nasdaq and UK futures are trading at positive bias.

  14. Most of the Asian markets are negative.

  15. SGX Nifty is up by just 4 points as of now.

  16. Coming to India :- Today our markets may open with flat based on SGX Nifty and global clues.

  17. Bank Nifty is taking a strong support at 32,500 and any break towards downside then expect more than 500 points fall.

  18. Nifty may bounce from lower levels which is at 14,550 and 14,450.

  19. The one who is looking for support and resistances based on OI data :- Nifty 14,800 CE was added more contracts and next 14,900 and 14,500 CE which will act as strong resistances and 14,500 PE looks strong support which was added more contract of nearest level.

  20. Bank Nifty 33k is strong resistance and 32,500 is an strong support .


All The Best , Trade with Discipline.

BONFIRETRADER


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