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99. Pre Market Analysis - May 05 ,2021

  1. Markets fallen badly in the last hour due to weak global clues and Weightage under performance and Pharma , Auto , IT , FMCG pulled the markets down.

  2. Nifty fell 0.94 % and Sensex declined 0.95% and Bank Nifty was down 195.45 points.

  3. Major fall happen after the news came about IPL suspension and Banks requests to RBI.

  4. Reliance is the main stock which is reacted to IPL suspension , as we knew Reliance owns the Mumbai Indians Team.

  5. FIIs sold 1772.37 crores and DIIs bought 987 crores which indicates clear selling pressure in our markets.

  6. Markets are under selling pressure as of now but few levels are supporting the market and pulling back , Nifty had a very important level towards downside at 14,452 and 14,388 once it breaks then we may see sharp fall .

  7. Today RBI Governor is addressing at 10 A.M and try to stay away from Bank Nifty in the first one and half hour and the news will decide the direction today .

  8. Today Tata Steel is declaring their result and we thought will be very good because Tata steel shot up 50% in just 4months so they may declare best result compare to last 5years at least.

  9. Coming to global markets :- Dow Jones and Nasdaq fell drastically due to Yellens comment and Dow recovered by the end of the day but Nasdaq closed with 250 down which is an big fall since march 2021.

  10. Currently Dow Jones futures are trading at positive but Nasdaq is negative .

  11. Most of the Asian markets are holiday today.

  12. SGX Nifty is up by 55 points as of now.

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

  14. Some muted Asian markets and yesterday fall in US so we have less clues from global and we have one news in our domestic which is unexpected speech at 10 A.M by RBI governor .

  15. His speech will impact our market today and already we are in bearish from the past 2 days so any disappointment news come will invite the further fall in banking stocks.

  16. Its better to wait until the speech and try to stay in the afternoon session due to high IVs and Wednesday erosion will be there.

  17. The one who is looking for support and resistances based on OI data and price analysis :- Nifty had a resistance at 14,686 and support at 14,452 and 14,388.

  18. Bank Nifty had a resistance at 33,000 and support at area of 32,200 to 32,000.

All The Best , Trade With Discipline.


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