Wednesday, November 4, 2020

Nifty and BankNifty, Stock Market Outlook 05 November 2020

  

 Nifty and BankNifty, Stock Market Outlook 05 November 2020 

Nifty: 11908 + 95
 BankNifty: 25771  +95

Stock Market Today 

Extending northward journey for third straight session, Indian equity benchmarks ended the Wednesday’s trade with a gain of around a percent, recapturing their crucial 40,600 (Sensex) and 11,900 (Nifty) levels ahead of the US Presidential election outcome. As per the report, Democratic candidate Joe Biden was leading marginally against Donald Trump.

 Markets started the session on an optimistic note as terming elevated food prices a temporary phenomenon, Economic Affairs Secretary Tarun Bajaj said it should be back to normal soon on the back of arrival of new crops and government measures for improving supply of essential commodities. Separately, he said Finance Minister Nirmala Sitharaman will soon announce the next set of stimulus package to boost the coronavirus-hit economy.


Nifty Outlook


Nifty is in strong upward momentum .The recent rally can continue and we should follow buy on dips strategy for tomorrow too.
Now for tomorrow 12025 is the upside resistance level .


BankNifty Outlook


Banknifty is in strong uptrend and buy on dips strategy should be followed. For tomorrow 25988 is upside level that BankNifty can test.


Thanks for your Precious Time.


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