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Pre - Market Analysis (11th Nov 2020)

  1. US markets were highly Volatile Yesterday.
  2. At went time Dow Jones was up 300 Points but then it closed Flat.
  3. We have witnessed more than 1200 Point rally for November series upto now.
  4. Last Month also this rally was witnessed at the beginning of the Month and then we witnessed a Consolidation for the rest of the Month.
  5. Expecting the same for this Month as well.
  6. High Probability of Consolidation for the rest of the series.
  7. Range would be between 12400-13000.
  8. SGX Nifty is Trading near 12700.
  9. Financial Stocks have been Outperforming Significantly now.
  10. Bank Nifty has Rallied 5000 Points in last 10 trading Sessions.
  11. So every dip from now is a buying Opportunity.
  12. Markets are ignoring all the negative news and just climbing the walls of worry.
  13. All this is due to low interest rates.
  14. High inflows are coming into the Market.
  15. Pfizer announced that it has successfully tested Corona Virus vaccine.
  16. All results show that it has gained more than 90% results in defeating the virus.
  17. Sector rotation has been happening in the Market due to the same.
  18. Previously , IT and FMCG were the flavour.
  19. But after this news money has been shifting from these stocks to Financial Stocks.
  20. So this Bull Market has many legs to support it.
  21. Nifty might Trade between 11620-11780 today.
  22. stockmarketadvisory.in

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