Feb 19, 2021
Time: 8 am
Pre Market Report:
- US markets closed negative.
- Asian markets are negative.
- SGX Nifty trading round Nifty future low of yesterday 15065.
- For the first time in last many weeks, we will see weekly Red candle in most markets.
- India should be no different.
- Nifty has turned beraish due to selling in index heavy weights.
- Bearishness may continue for next few days.
- Texas coming back to normal life, higher Stimulus propsed in US next week, may change the markets next week.
- Though index heavy weights are falling, like HDFC Bank, HDFC, ICICI Bank, Reliance, broader markets are better.
- Yesterday Next 50, Mid Cap, Small Cap all ended in Green while Nifty and Bank Nifty ended deep in Red.
- PSU Bank index shot up 6% after 6% up in previous trading session.
- So PSU Bank index is up 12% in two days.
- Yesterday top 6 gainers in Nifty 50 from PSU Pack.
- Coal India, NTPC, IOC, GAIL, BPCL, ONGC were the top 6 gainers.
- For fourth consecutive day, DIIs are selling more than what FIIs are buying.
- We are likely to test Nifty 15000 before recovering.
- After falling for many days, IT index has shown some green tick yesterday.
- We need to watch these 5 stocks: Reliance, HDFC, HDFC Bank, ICICI Bank, Kotak Bank.
- These are the stocks mainly contributing to Nifty fall.
- I am planning to sell some Call options in these 5 stocks.
- Right now, everything looks bearish.
- If there is any improvement in Global cues, then we can expect some recovery towards the end of the day.
- Last time markets bounced stronly just after breaking 15000.
- Let us see whether that happens today.
- If Nifty future touches 15000, that is time to cut short positions, if any.
- Nifty 15200, 15300CE added huge OI for Feb expiry.
- While writing the blog, SGX Nifty broke 15050.
- Asian markets are selling off.
- So we can expect another day of high volatility.
- Nifty future may trade between 15000 and 15180.
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