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Pre - Market Analysis (17th November 2021)

  1. U.S Markets closed higher yesterday.
  2. Retail Sales data of U.S have come better than Expected.
  3. Asian markets are mixed.
  4. But SGX Nifty is weak.
  5. SGX Nifty is down 70 Points.
  6. Though India VIX is collapsing daily but the Markets remain to be highly volatile.
  7. Yesterday after 2 pm there was a huge selling.
  8. Last 1 hour Nifty broke 18000.
  9. High amount of Call Options have been sold at 18100 and above strike prices.
  10. Nifty is likely to test the Friday's low of 17900 today.
  11. This should act as the first support for our markets.
  12. If we are unable to hold onto this level , then we can expect further selling downside.
  13. 17800 should be the next support and if that is gone then 17600.
  14. November has been a very difficult month for traders.
  15. Due to such huge Volatility and unexpected moves all the traders are struggling to manage.
  16. Option writers are also facing issues in handling positions.
  17. Usually the Wednesdays are highly volatile and the Volatility is expected to go higher today.
  18. 18000 , 18100 and 18200 are big resistance levels for our Market.
  19. Nifty might Trade between 17800 to 18000 today.


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