Pre – Market Analysis (7th Dec 2020)

On Friday , U.S Markets hit fresh highs.
SGX Nifty on Friday closing was near 13330.
Currently , U.S Futures are slightly down.
Asian Markets are witnessing severe profit booking.
Hang Seng , China , Kospi, Nikkei witnessing big profit booking.
This is why SGX Nifty is currently trading at 13250 , near about friday market closing level.
Bank Nifty & Nifty on Friday broke out in last half hour.
Today if we get support from Global Markets and if Asian Markets start to recover then we might witness big rally today.
FII’s on Friday too were net buyers.
DII’s keep selling.
13000 is a strong support for Swing traders on Nifty.
Bank Nifty support comes near 29500.
Market is giving Intraday fall almost on a daily basis.
These are the times to buy into the Correction.
This is a buy on dip Market.
Trend is so strong onto the up side.
We will keep slowly inching higher.
The pace will reduce but trend is intact.
Nifty might Trade between 12200-12380 today.
Today’s shares in focus ONGC, AXIS BANK, ICICI BANK, ADF FOOD, TATA CHEMICAL, RELIANCE, SUN PHARMA, MARUTI SUZUKI, DABUR etc.