InvestorQ : What is the market outlook and Nifty trend for the market starting from 07thDec 2020?
Sneha Balasubramanian made post

What is the market outlook and Nifty trend for the market starting from 07thDec 2020?

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1 month ago
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The November buoyancy in Indian equities remained intact, with broader markets and underperforming sectors leading. PSU Banks, Realty, and Metals continued to outperform sharply, while private banks and consumers took a back seat. Auto and Pharma sectors also outperformed decently. The level of market activity was good and volatility eased materially. INR strengthened marginally and Bonds also ended marginally higher. FPIs remained good buyers, while domestic institutions continued to sell.

The global equities continue to surge as vaccine optimism and strong recovery optimism emboldened the investors. Traders were encouraged by the week USD & poor job data raising the hopes of larger US fiscal stimulus. Weaker USD led to a sharp rally in precious and industrial metals also. Bonds sold off. Volatility remained moderate.

The outlook and trend for Indian markets remain unchanged from the previous week. However, the momentum has increased further indicating an even higher probability of a sudden change in the trend in the coming days. The short-term (weekly) and mid-term (Monthly) trend and outlook for Nifty are firmly negative indicating an adverse risk-reward ratio. The near term (daily) outlook and trend for Nifty is neutral.

For this week-

· The day traders may avoid trading in the 12823-13040 nifty range. The long positions may be held with a stop loss of 12774.

· For Bank Nifty The near and short-term trends are presently neutral. All short positions may be held with a stop loss of 30315. Day Trading may be avoided in the 29420-29895 range. For all long positions maintain a strict stop loss of 29370.
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