Pre Market Commentary

09032021 Pre-Market-Update: – Nifty moves, Stocks to Trade, FnO Action, Share Market Tips & Much More.

Nifty Watch for the day: DJIA hits record highs while Asia is sideways, unless we keep closing comfortably above the 20DMA of 15025 we are still sideways. Key Support for the day placed at 14708 & Resistance at 15225.

• Markets as expected opened higher but could not climb comfortably above 15100 till forenoon session and failed to stay above 15000 and a sharp drop till 14919.9 and closed at 14956.2. BankNifty though managed to make a new Monthly High at 35827.30 bounced again from a Low 35090.75 during afternoon trades while closing at 35275.75.
• As mentioned yesterday, fresh long positions were re-tested with pressure created in Nifty as unable to sustain above 15050, another uncertain closing was made yesterday at 14956. We expect sideways markets between 14800 – 15100 till we get clear closings.
  • 25/02/21 `unless we close above 14984 there could be pressure again`
  • Uncertainty is still prevailing in Nifty post Tuesday’s high at 15431.75 while BankNifty looks weakened below 36000 had fallen almost over 2k points from the weekly high made at 37708.75.
• Biden releases the $1.9trn relief bill as Senate passed the bill.
• Yesterday 52 stocks out of Nifty Top 100 stocks closed in Green keeping the markets flat till close. Volumes were flat in Nifty while BankNifty had some higher volumes witnessed. FIIs Sold again yesterday in all segments while mild buying was done by DIIs.
  • 09/02 Nifty as mentioned in previous updates hopped on above the previous day high and made a sharp rally led by BankNifty to go above 15000. Now 14800 – 14790 becomes a sharp Support and 15240 -15260 resistance
  • 05/01 Overall Trend remains bullish unless 13850 is broken on Spot Nifty on closing basis, we can use the downsides to buy-back sold shares from portfolio.
• Major upside contributions came from Infy, LT, Reliance, AxisBank and SBi while top 5 gainers were UPL, Gail, LT, ONGC and SBILife with over 2.8% gains.
• Top draggers were HDFC, HDFCBank, BajFinance, HUL & UltraCemCo while top 5 losers IndusInd, ShreeCem, BajFinance, UltraCemCo & BajAuto with losses >1.5%.
• BankNifty trade in the broader range of 34660 – 36010 with BankNifty Resistances at 35401, 35536, 35674, 35910 & 36230. Supports at 35120, 35004, 34886, 34635 & 35390
• Nifty trade in the broader range of 14791 – 15214 with Nifty key Resistance seen at 14998, 15055, 15113, 15163 & 15298. Support Seen at 14936, 14880, 14828, 14779 & 14698
• SGXNifty as of 07:30am is trading up around 15020
• FII Net Sell with ₹ 1494.49cr while DII Buy worth ₹ 483.62cr.
  • For Mar FII Net Buy ₹ 705cr while DII net sell ₹ 2151cr in equity
  • For Mar FII net Buy ₹ 414cr in Futures & Net Buy ₹ 13079cr in Options
• Stocks to Watch: AsianPaint, AxisBank, Cipla, CoForge,HeroMotoCo, HDFC,  HDFCBank, ICICIBank, LICHsg, LT, Reliance, UPL & Voltas.
• VIX was down by 3.44% to close at 24. 86 while USD-₹ closed higher by 0.12% at 73.3925
• All Major Indices closed in Green except Alpha50 & NiftyNext50 while the upsides were led by SmallCap & MidCap with over 0.3% Gains. Among sectoral indices Realty lost >1%, while FMCG & FinService were on the losing side. PSUBank gained most with 1.6% followed by Energy & Media with over 1% Gains
  • 61 Stocks hit fresh 52 week high on Friday with 3Mind, AdaniPorts, APLApollo, Astral, ATGL, BalmLawrie, BEML, BlueDart, BlueStar, CenturyPly, DCMShriram, ElgiEquip, GalaxySurf, Gail, GreavesCot,  GodrejInd, Grindwell, IBRealEst, IIFL, IRCTC, JindalSaw, Kajaria, KSB, NMDC, OIL, Philipcarb, PRAJ, Radico, SupPetro, TataComm, UPL while 27 stocks hit 52 week Low.
• From Nifty500 there were 240 Losers with 9 losing over 3% while 260 gainers with 21 gaining over 5%.
  • Top Gainer was BEML with 20 % gains followed by DCAL, CPCL, JustDial, IOB, MahaBank, IRB, Praj, JSWEnergy, TataComm, ElgiEquip, UPL, DCMShriram, BalramChin, BalmLawrie, BOI, ABCapital, BlueDart, GreavesCot & BajajCon closing with over 5% gains.
  • Top loser was ZensarTech with 5.36% losses followed by VBL, IBRealest, MMTC closing with over >3.5% losses.
• 1775 stocks traded on Yesterday with 886 advances, 766 declines & 123 unchanged.
• IRB saw 13.88x volumes spike while Network18, Crisil, Bluedart, TataComm, ElgiEquip saw over 5x spike.
• Long Build-Up seen in LTTS, LTI, IRCTC, Gail, GujGas, ONGC, LTFH & VEDL while Short Build-Up was seen in TVSMotor, SRTRANSFIN, BEL, DeepakNtr, ApolloTyre & AUBank.
• BOB, BHEL, PNB, Sail & SunTV are in Ban period in FnO segment
• IDFCBank, GodrejProp, AdaniEnt, Amaraja, AUBank, BHEL saw action in April Contracts
• PCR was down to 1.06 from 1.12 & Max pain in March series stuck at 14500 in March series. 10^th Feb 15500CE & 15100CE saw OI spike while 14500PE & 15000PE saw highest change in OI.

Key Triggers:

• Nifty Open – 15002.45, High- 15111.15, Low- 14919.9 & Close- 14956.2. Nifty had closed around 61 points lower than 20dma of 15017 & BankNifty though looked sideways today managed closed around 670 points lower 20DMA of 35950.
• Except DJIA US markets closed in Red led by Nasdaq while European markets closed higher Yesterday. Nikkei, HangSeng & ASX are trading in Green while Shanghai is in Red. As of 07:30am Key Indices Futures are trading at:- Dow -> up at 31900 while Nikkei225 is down at 28590 & Hang-Seng at 28540.

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