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Pre - Market Analysis (10th November 2021)

  1. U.S Markets closed lower yesterday.
  2. After closing in green for 8 consecutive trading sessions they have witnessed some profit booking.
  3. It was one of the highest winning streaks for market.
  4. Today the inflation data is going to be announced in U.S.
  5. Ahead of the same markets are a bit shaky.
  6. Asian markets are lower.
  7. SGX Nifty is trading at 17960 today.
  8. We are likely to have a decent gap down opening today and I feel that 17920-17900 is a good buying opportunity.
  9. 17900 PE added huge open interest when we crossed 18k.
  10. This support level shouldnt break easily today.
  11. We are in a consolidation mode currently and there is no clear trend.
  12. Looks like Nifty is again going to fall back in 17800 to 18000 range before a possible big move.
  13. IndusInd Bank has stabilized yesterday and that has settled Bank Nifty.
  14. Bank Nifty is a good risk reward zone buy near 38900 -39000 which is Mondays low.
  15. Nifty near 17900 is a good opportunity to enter.
  16. We have supports at 17800-17850 and 17900 all the way for Nifty.
  17. These should come in handy for the day.
  18. Usually the Wednesday trades are highly volatile and expecting the same Volatility today as well.
  19. This Market is very difficult to trade for option buyers and trend traders.
  20. It's not like before where you get big moves almost 2nd day.
  21. The good old updays are gone now.
  22. Now markets would be boring and consolidating for the coming year as markets cannot keep going up in a straight line.
  23. Nifty might Trade between 17800 to 18100 today.
  24. Bank Nifty might Trade between 38800 to 39500 today.


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