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Pre - Market Analysis (23rd March 2021)

  1. US markets Opened on a Negative note Yesterday but closed higher.
  2. Asian markets are mostly Trading higher.
  3. SGX Nifty is almost flat / Positive.
  4. Yesterday FII's were net sellers and they sold heavily in Pvt Sector Banks.
  5. Bank Nifty Underperformed Significantly yesterday.
  6. Due to Bank Nifty Underperformance , Nifty also was dragged.
  7. Supreme Court ruling on loan moratorium case is due to today.
  8. This is the reason why Bank Nifty under performed yesterday.
  9. Due to Uncertainty because of Ruling , FII's must have booked some profit.
  10. I expect the Verdict to be a Non event today and it might be postponed further.
  11. How will the Markets react to the same will be Interesting to see.
  12. 15000 CE added highest open interest yesterday.
  13. So this can act as a stiff resistance for this expiry.
  14. March series was highly Volatile and generally in the last week Market makes a big move.
  15. Expecting a big move in these 3 trading sessions.
  16. But for that to happen Nifty should either cross 15k or break 14500.
  17. As long as Nifty trades within this band this is going to be a ranging sort of Market.
  18. VIX declined significantly yesterday and closed below 20.
  19. Yesterday Markets were not much Volatile but today things might change due to SC Verdict.
  20. U.S VIX was down 10% Yesterday.
  21. Nifty might Trade between 14680-1492 today.


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