Markets Remains Under Pressure 0 1186

Pre Market Updates Friday December 7, 2018
Nifty levels

Positive Points:

  • Oil sinks after OPEC delays output decision
  • Rupee back at 71 to the dollar
  • IT sector look promising, showing exhaustion at higher levels.

Negative Points:

  • Nifty Futures contracts and Bank Nifty Futures contracts surge in open interest, mainly fresh short positions.


  • Over all markets remains under pressure today
  • Markets are likely to react on five states elections exit poll due on Friday evening and result on December 11 as well as OPEC meeting.
  • The outcomes of the five state elections will likely set the tone for the general elections next year.
  • Voting in Rajasthan and Telangana will take place on 7 December 2018 and the counting of votes in all the states will be done on 11 December 2018.
  • Assembly elections in Madhya Pradesh and Mizoram were held on 28 November 2018.
  • The election in Chhattisgarh Assembly was held in two phases 12 and 20 November 2018.
  • A 3-0 score for BJP may result in an extension of the market’s current rally, while a 0-3 or 1-2 loss (Madhya Pradesh and Rajasthan) may result in a sharp correction.
  • Nifty likely to face resistance at 10690 and support at 10580.

Nifty50 Chart Analysis:  Bearish Candle

  • Nifty formed bearish candle on the daily charts.

Disclaimer: The views expressed by investment expert on are his own and data available from advises users to check with certified experts before taking any investment decisions.

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