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1.Pre Market Analysis - Nov 23 2020

Updated: Nov 27, 2020


1. Nifty 50 appreciated 10% of this month and bank nifty appreciated 20%

2. FII buyers keep on buying , FIIs bought 88000cr from the starting of the year and they bought 50000cr only this month and this an record high, that is one of the reason for nifty rally and DIIs sold 32600cr of this month and this is an record high for DIIs

3. Now we are in last week of this November and i hope it will be end with huge volatility

4. Coming to Global Markets

* Friday US market closed with negative, As of now Dow Jones trading with positive

* Sgx Nifty up by 85 points as of now

5. Here in India , coming to news

* Everyone tensioned about Ambani health by last week and that is the reason why Reliance took back seat of previous week but last saturday he attended the video conference , may be Reliance will take action today and Future retailers are looking for deal with Reliance and CCI gave approval to them but still they need approval from NCLT

* Kotak bank and Indusindbk promoters share holders limit has increased 15% to 26%

* RBI announced the Banking License Guidelines and its good news for NBfCs - Bajaj finance , M&M fin , Srtransfin

* Today focus on Financial service stocks and Kotak bank , Indusindbk , Reliance

6. One who are looking for Open interest data

Call Data :-

* Maximum Call open interest of 35.99 lakh contracts was seen at 13,000 strike, which will act as crucial resistance level in the November series.

* This is followed by 13,500 strike, which holds 32.92 lakh contracts, and 12,900 strike, which has accumulated 27.88 lakh contracts.

* Call writing was seen at 13,200 strike, which added 6.33 lakh contracts, followed by 12,800 strike which added 6.03 lakh contracts and 13,400 strike which added 3.9 lakh contracts.

* Call unwinding was seen at 12,900 strike, which shed 2.3 lakh contracts, followed by 12,700 strike which shed 2.04 lakh contracts and 13,500 strike which shed 1.42 lakh contracts.


Put Data :-

* Maximum Put open interest of 44.03 lakh contracts was seen at 12,000 strike, which will act as a crucial support in the November series.

* This is followed by 12,800 strike, which holds 37.16 lakh contracts, and 12,500 strike, which has accumulated 32.79 lakh contracts.

* Put writing was seen at 12,800 strike, which added 17.18 lakh contracts, followed by 12,000 strike, which added 7.03 lakh contracts and 12,500 strike which added 6.87 lakh contracts.

* Put unwinding was seen at 13,100 strike, which shed 8,325 contracts, followed by 13,200 strike, which shed 6,600 contracts

7. If nifty breaks all time high then it will rally but key resistance level is 13000 and support level is 12800

8 . Bank nifty is still looking strong but key resistance levels at 29700 and 30000 and key support levels at 28800 and 28500


All the best

Trade the discipline

BONFIRETRADER

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