85. Pre Market Analysis - April 08 , 2021
RBI policy added fuel to fly Indian Markets.
Nifty climbed 135 points and Sensex rallied 460 points and Nifty Bank jumped 489 points .
IT , Metals , Financial stocks performed very well on yesterday.
After long time FIIs and DIIs were both on buying side , as FIIs bought 227.42 crores and DIIs bought 381.08 crores.
Markets continued the same volatility and as we already discussed in yesterdays pre market report about how we can make money on volatile markets.
The only way to make money volatile market is to averaging the position when the price is bouncing back to our trade and that is way where we can average our entry price and put limit in target then it will trigger automatically rather than going with naked quantities this the best way to make money in volatile market.
Yesterday some of the global markets are traded in negative but our markets started climbing up due to RBI.
Nifty is trading in between the range of 14,400 to 14,900 from many days and if it breaks anyone side then we will get clear direction to trade until that markets will play consolidation only .
Now a days Nifty is easily making 200 points in intraday and Bank Nifty is making 800 to 1000 points in intraday and the market has been changed now so we have to upgrade ourself when market is changing their pattern.
3 days to start IT stocks results and focus on those stocks along with focus on metal stocks and reliance as they also performing well.
Coming to global markets :- US and UK markets are mixed and currently Dow Jones , Nasdaq and UK futures are trading in positive.
Most of the Asian markets are trading in positive except Japanese market (Nikkei).
SGX Nifty is up by 54 points as of now.
Coming to India :- Today our markets may open with a gap-up based on SGX Nifty and global markets clues.
If Nifty gap-up opening is above 14,900 today then dont chase gap-up immediately , wait for sometime whether it is going to hold above 14,900 or not and if it holds in the morning session then its very difficult to fall in the afternoon session.
Today is an expiry day in 2nd week of April so market will play huge volatile and if cant handle it then trade on equity stocks .
The one who is looking for support and resistances based on OI data :- Nifty 14,900 and 15,000 CE was added huge contracts which will act as strong resistances and support at 14,700 PE which was added huge contracts.
Bank Nifty had a resistance at 33,000 and 33,5000 and crucial level at 32,500 will be strong support
All The Best , Trade With Discipline.