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Pre - Market Analysis (12th November 2021)

  1. U.S Markets closed mixed yesterday.
  2. Right now Dow futures are higher.
  3. Asian markets are lower.
  4. SGX Nifty is up 20,30 points.
  5. Yesterday was a volatile expiry.
  6. Market kept falling since open.
  7. As soon as Nifty broke 17900 it's support level , the selling intensified.
  8. India VIX was 7% higher yesterday during the day.
  9. The final 30 minutes witnessed good amount of short covering.
  10. Nifty took support around 17800 yesterday.
  11. As I've been saying 17800 to 18100 is the range currently.
  12. Market is trading with huge Volatility in this range.
  13. Market is weak  specially the Bank Nifty.
  14. Bank Nifty hit an all time high of 41800 in October end.
  15. Now it's at 38500.
  16. Down more than 10%  because of inflation fears.
  17. The sentiment is negative now as we haven't a closing above 18100 for Nifty.
  18. At lower levels short covering is saving the Market from collapsing.
  19. Else the situation would've been much worse.
  20. Expect the range to continue for some more time.
  21. Nifty might Trade between 17800 to 18100 today.


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