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87. Pre Market Analysis - April 12 , 2021

  1. Nifty fell 38.90 points and Sensex was down 154.89 points Nifty Bank lost 334.80 points on Friday.

  2. Banking stocks and Reliance and Metal stocks under performed on last day.

  3. IT and Pharma are performing well.

  4. The major reason for our performance is rise in Covid cases and yesterday of the reporter said Maharashtra government may put complete lockdown for 15days and that will be decided by today morning at 11 A.M as Maharashtra C.M had a meeting with Finance department and if it was true then our markets fall drastically.

  5. Remember our last year our markets fell more than 50% and recovering it quickly and made new ATHs and now also our markets are going fall and this is the best time to invest money in our markets .

  6. Select some active which is performed very well before this fall and buy those stocks at lower levels and try to buy at every fall then your positions will be averaged and you will be in good profit once it recovered.

  7. Best stocks to buy now is selective financial stocks and Pharma stocks and FMCG stocks and some other selective sector stocks.

  8. Coming to Intraday moves we are sitting with lot of domestic negative news along with good positive global clues.

  9. Dow Jones is making new ATHs but our markets are falling and any fall in Dow Jones may pull down our markets very fast .

  10. FIIs and DIIs turned to selling side again as FIIs sold 653.51 crores and DIIs sold 271.26 crores .

  11. Focus on IT and Pharma Stocks as this week IT stocks are declaring their results and Saturday HDFC Bank is going to declare their result .

  12. Today after market hours CPI and IIP data will be announced .

  13. Coming to global markets :- Last night US markets closed with new ATH and UK markets closed in positive.

  14. Currently Dow Jones , Nasdaq and UK markets are trading at lower.

  15. All Asian markets are trading at lower.

  16. SGX Nifty is down by 230 points as of now.

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

  18. If our markets open with huge gap-down then expect continuation fall in the first few minutes and after it may go to consolidation and after that again it will fall.

  19. Markets are under selling pressure and it is pure sell on rise markets so dont be on buying side today and any rise will be sell off today.

  20. The one who is looking for support and resistances based on OI data :- Nifty upside move possible if it breaks 14,900 and down fall can expect if it breaks 14,600 and next support at 14,500.

  21. Bank Nifty had a resistance at 33k and support at 32,500 and looks like today it will open below 32,500 and if it breaks 32k level and expect more fall.


All The Best , Trade With Discipline.

BONFIRETRADER

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