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Pre - Market Analysis (17th November 2020)

  1. US markets closed around a Percent higher Yesterday.
  2. Asian Markets are all Trading higher.
  3. SGX Nifty hit a high of 12930 Yesterday but now trading near 12880.
  4. Moderna announced that their vaccine is effective 94.5%.
  5. There is a race going on between Moderna & Pfizer for the Vaccine.
  6. Pfizer's Vaccine was 90% effective and required to be stored in Negative 70 Degrees Temperature.
  7. Moderna Vaccine as per reports doesn't require such Temperature.
  8. How Accurate are the Claims that is the Most Important Question now.
  9. Only Time Will say.
  10. I have been expecting a Consolidation after a 1100 Point rally in Nifty but Markets are not stopping their upmove.
  11. 13000 is the Resistance but the rally which is going on in the Markets no Resistance seems to be working.
  12. If Market goes up too fast the fall will be too severe too whenever it comes.
  13. So a small Consolidation / Correction would make it much stronger for Bulls.
  14. We are currently in a Global rally.
  15. Indian Markets are also Contributing to the same.
  16. FII's continue to buy.
  17. As per data 80% retail is still short on the Market.
  18. This short covering might itself lead up to a large rally.
  19. As per price action there is no need to be Bearish now.
  20. If Second Wave of Corona Virus haunts India , then also there won't be a Nation wide lockdown
  21. The lockdown even if bought would be restricted to some states only.
  22. U.S Government also announced that there won't be any Nation Wide lockdown.
  23. Lockdown if needed would be restricted to some states only.
  24. Reliance has acquired Urban ladder but that's a very Small Acquisition of less than 2000 crores which is very small from Reliance point of view.
  25. VIX has once again come below 20.
  26. Premiums not too exciting for Monthly Expiry if you are an option seller.
  27. Nifty might Trade between 12820-12980 today.


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