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Pre - Market Analysis (8th June 2021)

  1. U.S Markets closed Slightly Negative Yesterday.
  2. Nasdaq closed slightly positive.
  3. Right now Asian Markets are mostly lower.
  4. SGX Nifty is down by 10-20 Points.
  5. Yesterday Markets opened higher and continued the Momentum.
  6. What was a bit surprising about Yesterday's rally was U.S Futures were down Intraday and European Markets were also lower during Market hours.
  7. Still our Markets closed firmly in Green.
  8. Reliance was the outperformed even Yesterday.
  9. Bajaj Finance and Bajaj Finserv both witnessed profit booking due to Cautious view by Managements.
  10. Bank Nifty facing some reistance near 35500.
  11. Bank Nifty will gather steam if we get closing above 35500.
  12. On the lower level 35200-35100 is a good support.
  13. Bank Nifty from quite some time trading within this range.
  14. When Everybody expects an index to go up it generally consolidates.
  15. When these people lose patience and dispose their positions it rallies.
  16. Most of the Technical people expecting Bank Nifty to go higher so it's Consolidating.
  17. Patience to stick to your positions and conviction rewards.
  18. In spite of Global Markets witnessing profit booking Indian Markets are outperforming.
  19. 15700 PE has added large open interest yesterday.
  20. This is in the money option still added huge open interest.
  21. Expecting this level to be a good support for Nifty for coming days.
  22. Nifty might Trade between 15680-15840 today.
  23. Expecting a Rangebound day on Nifty and Bank Nifty with 100-150 Points plus or minus.


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