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97. Pre Market Analysis - May 03 , 2021

  1. Nifty fell 400 points in 2 days which is more than 3% and Bank Nifty fell 1500 points in last two days .

  2. Severe selling pressure from FIIs made our markets to turn into bearish .

  3. As FIIs sold 3465.07 crores which is very big number compare to previous selling numbers and DIIs bought 1419.31 crores.

  4. Reliance , Financial , FMCG , IT sectors dragged the market on Friday.

  5. Nifty is consolidating a big range of 15,000 to 14,200 from many days and it may continue the consolidation in upcoming days.

  6. Reliance , IndusInd Bank came with good results on Friday.

  7. Today SBI Life and Kotak Bank are declaring their results.

  8. All Auto sales were down in April month due to second wave of Covid impact so Auto stocks may continue the under perform.

  9. Highest GST collection in April month which is 1.41 lakh crores and this may support the market.

  10. Corona recovery rate is slowly increasing in our country.

  11. 5states election results declared yesterday and seems BJP party won less seats in every states but it may not impact right now because this is not parliament elections but this will give some clarity about parliament.

  12. Coming to global markets :- US and UK markets are closed at lower on Friday.

  13. Dow Jones and Nasdaq futures are trading with flat in positive and UK futures are negative.

  14. Most of the Asian markets are negative.

  15. SGX Nifty is down by 190 points as of now.

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

  17. Nifty and Bank Nifty was seen more call writing on Friday which indicates bearish signal for us.

  18. We are sitting with some local positive news and negative news also along with weak global markets

  19. Weak global clues with some domestic negative news will trigger the little positive news and that's our markets psychology because investor won't bother positive news in bears market and vice-versa.

  20. The one who is looking for support and resistances based on OI data and chart analysis :- Nifty 14,800 is an crucial resistance and Nifty 14,500 is an strong support if it breaks with good volume then we may see severe fall in our markets.

  21. Bank Nifty Friday low will become resistance once it breaks and chances of pullback is more from lower level at 31,800.

  22. Any fall of 1.5% today in the morning session then expect some short covering in the afternoon session.

All The Best , Trade With Discipline.


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