Wednesday, November 11, 2020

Stock Market Outlook 12 Nov 20 | Nifty , BankNifty

  

 Nifty and BankNifty, Stock Market Outlook 


Stock Market Today 

Indian equity benchmarks witnessed a significant bout of volatility but ended at yet another record closing high on Wednesday amid broad-based buying, thus settling in the green for the eighth session in a row. Markets made an optimistic start and traded over half percent higher, tracking largely positive cues from global markets and strong foreign fund inflows. 

Traders took encouragement as the health ministry said the National Expert Group on Vaccine Administration for COVID-19 is in conversation with all vaccine manufacturers, including domestic and foreign ones, a day after Pfizer Inc. and BioNTech SE announced more than 90 per cent efficacy of their potential vaccine for the coronavirus. 

Support also came as Commerce and Industry Minister Piyush Goyal and Minister of State Hardeep Singh Puri held a virtual dialogue with their UK counterparts to review the progress towards a post-Brexit Enhanced Trade Partnership with Britain, which could lead to a free trade agreement in the future.



Nifty Outlook


Friends as we discussed yesterday that Nifty can test 11748 and today Nifty closes at this level .As today also we again made a lifetime high but tomorrow is weekly expiry so be alert as profit booking may happen. 

BankNifty Outlook


As tomorrow is weekly expiry so profit booking may happen so be alert. But long and short term trends are still positive so making short position is not advisable .


Thanks for your Precious Time.


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