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Pre - Market Analysis (24th Nov 2020)


  1. US Markets closed higher Yesterday.
  2. Dow Futures are also trading higher now.
  3. Asian Markets are Mindly Positive.
  4. SGX Nifty is trading around 13k.
  5. We have 3 more days left for November Expiry.
  6. Markets are highly Volatile now.
  7. Yesterday after a big gap up we observed selling pressure but Market recovered by the end of Trading day.
  8. Bank Nifty underperformed Yesterday.
  9. HDFC bank led the Bank Nifty fall along with PSU Banks.
  10. 13k is a Resistance , Markets have reversed 3-4 times near 13k.
  11. This time the opening is near 13k , will we breakout or will we again witness selling pressure.
  12. This is a big question.
  13. Today selling at open might not work out as it worked Yesterday.
  14. Strength might continue today if Bank Nifty contributes and Participates.
  15. Reliance started to rally after a 20% correction.
  16. IT Stocks outperformed Yesterday.
  17. 13000 CE has the highest open interest , so if this level breaks then option writers who sold 13k CE will be trapped.
  18. They would cover their postions and that would itself take Nifty higher.
  19. Today it's better to watch the action for first 30 mins & then decide.
  20. If we sustain above 13k in first hour then it's a breakout.
  21. We May consolidate near 13k before Breakout.
  22. Nifty might Trade between 12880-13040 today.
  23. stockmarketadvisory.in

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