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Pre - Market Analysis (26th November 2021)


  1. U.S Markets were closed yesterday.
  2. Some major developments have taken place overnight.
  3. There's a new variant of Corona virus which has been identified in Africa.
  4. Some cases have been found of this variant in U.S as well.
  5. So U.S has banned flights from Africa.
  6. SGX Nifty is indicating a 150 point gap down at open.
  7. But I do not think we are going to open this lower.
  8. India doesn't face any issues due to this Covid variant.
  9. Plus I feel Covid concerns may slow down the pace of tapering by Fed.
  10. This could be a positive for the Markets.
  11. December is a long month with 5 weekly expirys in it.
  12. 17000 PE has the highest open interest in December series on the downside.
  13. So this could act as a good support for whole of the December series.
  14. For Intraday , one should look to buy this gap down with a stoploss of yesterday low ie , 17350.
  15. 17250 is a good support on the lower side.
  16. Now the Market is consolidating between 17250 to 17600 with high Volatility.
  17. This range could go on for a while.
  18. Nifty might Trade between 17350 to 17550 today.
  19. stockmarketadvisory.in

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