March 3,2021 Morning Markets

March 03, 2021

Time: 8 am

Pre Market Report:

US markets

Falling after showing fantastic performance the day before.Nasdaq fell 1.7% and Dow fell 0.5%.The tech stock balloon is loosing the gas.

Asian markets are mixed.

SGX Nifty is above 15K.

Yesterday evening:

Last 30 minutes Nifty shot up 150 points.

Bank Nifty shot up more than 300 points.

SGX Nifty crossed 15050 yesterday night, but now has started to relax.

Wednesday trades are highly volatile.

New change:

Today is the first Wednesday with new SEBI rules of intraday margin of only 1X.

If there is less volume, market can be more volatile.

Now Nifty will be entering 15K plus region, DIIs are likely to sell more aggressively.

That can make markets more volatile.

Yesterday Banks under performed throughout the day.

Only in last 30 minutes, Banks recovered.

Still Bank Nifty did not take out morning high but Nifty took out morning high.

But Bank Nifty is finding good support at 35000.

Due to Semiconductor shortage, Autos are under performing in the short term.

Taking this opportunity, long term investors must be entering into Auto stocks.

Nifty R + H Twins:

Reliance still struggling around 2100.

HDFC and HDFC Bank are also struggling.

Key levels estimate:

Nifty is likely to find very good support at 14800.

Nifty future may trade between 14880 and 15080.

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