Pre – Market Analysis (21st Dec 2020)

1. U.S Markets closed lower on Friday.
2. Right now U.S Futures are almost flat.
3. Asian Markets are majorly negative.
4. SGX Nifty is Trading near 13740 now.
5. There were some news flow over the weekend.
6. Reliance has come up with a Unique Gas based system which can meet 15% of Asia’s demand.
7. This is a Postive news for Reliance & due to this Reliance might gap up today.
8. U.S Stimulus has been agreed for $900 Billion.
9. Fed has removed Buy back restrictions on Banking Stocks.
10. U.K has noticed major new Cases for Corona Virus.
11. This is a Negative news.
12. We are in a Liquidity driven Market now and that is being provided by FII’s
13. This is a shortened trading week with Friday being Christmas holiday.
14. Majorly expectation is big players won’t be active in last week’s of December.
15. Consolidation is expected now with a slight postive bias.
16. Whenever there is an Intraday dip , it is being Immediately bought into.
17. Market closes at the highest point of the day by End of the day.
18. This has been the trend since few Months.
19. This might continue until the Budget as well.
20. Tracking the Europe Markets is important today which opens at 1 PM IST.
21. Currently European Futures are down more than a percent.
22. Nifty might Trade between 13640 to 13820 today.
23. Today’s chart presenting a negative view on Bank Nifty chart.

Mostly persons having the confusion about the chart shown above “you see two parallel line those are point out the range of the market, from these points market may be turnaround but must follow the price action and market trends”.