Nifty Tomorrow: Prediction, outlook and Trend for 25th Nov 2020

Medium Term Trend:  ☝UP (Changes to Down below 12500)

Nifty@13000+: Historical days for market as market conquered 13K levels and closed at 13050 levels with a gain of 100+ points

Posting strong gain of 100+ points is become a norm these days and market has been doing this consistently and frequently. In last post we had mentioned that how market is behaving is indicating that markets are in correction mode and the correction if extend could move towards 12600 and it should finish around these levels. at the same time we had also clearly warned against initiating short position as the over all trend of the market was always up and market can surprise anytime with a positive move.

Yesterday when markets moved above 12940-950 levels, it indicated that short term correction is most likely over now and markets may move higher/resume its uptrend. Correction we saw was short lived and was mostly running correction ( where prices continued to make new highs). Such corrections are often sign of a very very strong bull market.

Now Nifty is trading at a fresh all time high hence it will be foolish to talk about resistance and upper targets ( sky is the limit now and markets can continue to move up) but still we see some sort of resistance around 13080-90 levels and a closing above this level will be a very positive sign indeed.

Today we saw an addition of 30 lakh shares in 13K put ( Nov series) hence its highly likely that Nov expiry will be above 13K levels only. Anyone waiting for a fall in Nov series below 13K levels is likely to be disappointed.

Happy Trading

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