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 Good Morning Traders, PRE MARKET ANALYSIS by Shyam..

Date: 14 Dec 2021,

SGX Nifty: -63

US MARKETS: NEGATIVE
EUROPE: NEGATIVE
ASIAN MARKETS: NEGATIVE

NIFTY & BANKNIFTY LEVELS FOR TODAY.
Nifty 50 Resistance: 17417, 17446, 17517
Nifty50 Support: 17340, 17305, 17275
Bank Nifty Resistance: 37120, 37200, 37360
Bank Nifty Support: 36827, 36781, 36645, 36567
(Mark these levels on your Chart)

Our View: As Sgx Nifty indicates, Nifty 50 is likely to open on Negative Note. All the world major markets are trading in Red. Yesterday morning given hopes to the bulls for upside but immediate sell off is heavy. As global cues are negative and again focusing on Omicron variant and Federal meet on next week. Expecting a volatile week ahead. As we said earlier Nifty 50 & bank nifty are not able to hold the 20 DMA, it will attract new buyers once it’s crossing this hurdle. Will follow sell on rise in the first hour, then will go as per data and strategy.

For short term view: Till it breaks the major Upside i.e. 18065 – 18205 Level band, will continue our view as BEARISH only.

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