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Pre - Market Analysis (8th November 2021)

  1. U.S Markets closed higher on Friday.
  2. Right now Asian Markets are slightly positive.
  3. SGX Nifty is near 18k.
  4. November has been a fairly volatile month for index.
  5. Nifty at the end of october fell 1000 points from 18600 to 17600.
  6. Made a short term bottom from those levels and since then it has been a sideways Market.
  7. 17800 to 18000 is the range for Nifty.
  8. Nifty is moving with high Volatility within this range.
  9. The good news is that India VIX is falling continuously.
  10. India VIX is now below 16.
  11. India VIX below 15 is considered to be bullish trend moving forward.
  12. FII's were selling heavily at the beginning of November but now the magnitude has reduced.
  13. Many term that it might be due to tapering news or some issues in corporate tax etc.
  14. Whatever it might be , seems like the revenge selling is out of the way now.
  15. In the past I have observed as and when FII long position goes below 50% Markets in the coming weeks have rallied uniformly.
  16. Now it's the same situation In our Market.
  17. 18000 , 18050 , 18100 are huge resistance for today.
  18. Once these levels get taken out we may see 18200 in no time.
  19. 17870 should be a good support for the day.
  20. Nifty might Trade between 17850 to 18100 today.


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