Bizz Buzz Pre-market Insights: Things to know before opening bell

After a recent consolidation, the market recorded a sharp upmove in the last two sessions, approaching the 21,500 mark.

The RSI (Relative Strength Index) is in overbought territory at 84.92, indicating caution for the near term.

The PCR (Put-Call Ratio) is at 1.47, suggesting a potential for consolidation in the coming days.

2. Technical Analysis:

The bulls remain in control, and further upsides are likely once the immediate resistance of 21,492 is surpassed.

Caution is advised due to the overbought condition of the 14-day RSI, but the 14-week RSI suggests scope for more upsides in the intermediate term.

3. Nifty Levels:

Immediate support is at 21,300-21,200, with crucial supports at 21,319-21,235.

Resistance levels are at 21,493, 21,554, and 21,652.

4. Nifty Bank:

The Bank Nifty surpassed 48,000 for the first time, with immediate support at 47,500.

Resistance levels are at 48,223, 48,362, and 48,586.

5. Options Data:

Maximum Call open interest at 22,200, acting as a key resistance.

PCR at 1.47 indicates a more bearish sentiment.

6. Stock Movements:

High delivery percentage in stocks like Godrej Consumer Products, Container Corporation of India, etc.

Long build-up in 46 stocks, including National Aluminium Company, Oracle Financial, etc.

Long unwinding in 41 stocks, such as Max Financial Services, HDFC Bank, etc.

Short build-up in 36 stocks, including Nestle India, ICICI Prudential, etc.

Short-covering in 62 stocks, including SAIL, Hindustan Copper, etc.

7. Bulk Deals:

Check for bulk deals for more insights.

8. Stocks in Focus:

Lupin receives US FDA approval for Allopurinol tablets.

United Spirits receives a claim of Rs 365.33 crore from a national institutional customer.

Tata Power Solar Systems signs a contract for a solar PV project in Rajasthan.

9. Funds Flow:

FIIs net bought shares worth Rs 9,239.42 crore, while DIIs sold Rs 3,077.43 crore.

10. F&O Ban:

- Balrampur Chini Mills, Delta Corp, Hindustan Copper, India Cements, Manappuram Finance, SAIL, and Zee Entertainment Enterprises remain in the F&O ban list.

Disclaimer: This summary is for informational purposes only and does not constitute financial advice. Traders and investors should conduct their research and consider consulting with financial experts before making investment decisions.