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Market Trends: Trader's Focus Is Who Will Be The New US President

In the near future, the policies of the party that will form the government in the United States will be redesigned, which will have an effect on the world markets.

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The focus of traders is who will be the new president of the United States, along with the new president; the eyes of global markets are also on the relief package to be announced by the United States in connection with the epidemic.

Dear Trader…

Global stocks and Markets traded under heavy selling pressure as The US presidential election is scheduled for November 3. With the election campaign reaching its climax, there has been a sharp rise in political tensions. On the other hand, this election is having an impact on financial markets, not only in the United States but all over the world.

With the countdown to the election looming, it is only natural that in the coming days this issue will lead to a massive volatility in financial markets and stock markets, commodities and currency futures around the world. Global investors have also distanced themselves from new investments.

Any major positive development could increase or decrease the attractiveness of foreign funds in the Indian stock market along with global markets, given the good progress being made in the search for the corona vaccine and signs of further success in vaccine trials in the coming days. And the possibility of a panic correction in stocks cannot be ruled out in the event of further deterioration of India-China economic agreements.

With Unlock, most of the companies are now in pre-lockdown operations and good rains in many parts of the country this year are expected to have a positive impact on the agro-rural economy.

The report cites festivals in India ahead of the US presidential election as offloading from global markets and corona cases in European countries as

well as negative factors on the global economy. The boom is seen as a profitable sell-off.

FIIs are constantly being sold in the market by local funds against buying so that the focus of investors is who will be the new president of the United States.

Along with the new president, the eyes of global markets are also on the relief package to be announced by the United States in connection with the epidemic. In the near future, the policies of the party that will form the government in the United States will be redesigned, which will have an effect on the world markets.

Friends, the country's economy is recovering slowly but steadily, according to a survey report by the State Bank of India and ECORAP, the Central Government is making every effort to save the country's economy from the COVID 19 crisis. The government is currently working on a third relief package.

This time the government can invest in affiliated companies instead of investing directly in urban employment schemes. The government may announce a relief package for the industry that has been hit the hardest by the Corona virus epidemic.

The government can promote the infrastructure sector along with urban projects under this package. It can also directly help the hospitality as well as the tourism sector.

The government had earlier announced an incentive package after the lockdown began in late March 2020. The move by local stock markets is likely to be based on companies' second-quarter results and global developments.

Dear Traders…. For the Trading Idea of…

Ø Nifty Future closed @ 11638 as on 30.10.2020..!!

Nifty Future has resistance at 11676 – 11707 Point; above which other resistance levels are at 11717 – 11733 Point with highly Volatile Trend,

Nifty Future has Downside support levels are at 11616 – 11606 Point; below 11606 Point, other support levels are at 11575 – 11530 Point.

I am positive for the next bullish trend only above @ 11733 Point but be with the trend. Let the market decide further moves.

As we are saying from many days, Buying is suggested in falls only...and it’s still a better strategy in the given Scenario...!!!

Regarding Long term positions, it is preferable to remain cautious now...!!

If Nifty Future crosses @ 11733 Point, again then the upper side target is quite high and it may touch @ 11777 Point in the short term...!!!

Ø Bank Nifty Future closed @ 23924 as on 30.10.2020..!!

Bank Nifty Future has resistance at 24008 – 24177 Point; above which other resistance levels are at 24240 – 24303 Point with highly Volatile Trend,

Bank Nifty Future has Downside support levels are at 23888 – 23808 Point; below 23808 Point, other support levels are at 23730 – 23676 Point.

I am positive for the next bullish trend only above @ 24303 Point but be with the trend. Let the market decide further moves.

As we are saying from many days, Buying is suggested in falls only...and it’s still a better strategy in the given Scenario...!!!

Regarding Long term positions, it is preferable to remain cautious now...!!

If Bank Nifty Future crosses @ 24303 Point, again then the upper side target is quite high and it may touch @ 24373 Point in the short term...!!

Ø Trading Idea for the derivative stocks….

Ø INFOSYS FO @ RS 1061

Positive Trend @ Rs 1061 / 1044 with Stop loss of Rs @ 1033 for the target near @ Rs 1077 - 1093 in short term…..!!!

Ø GODREJ PROPERTIES FO @ RS 1028

Positive Trend @ Rs 1028 / 1008 with Stop loss of Rs @ 993 for the target near @ Rs 1044 - 1050 in short term…..!!!

Ø TCS LTD FO @ RS 2660

Positive Trend @ Rs 2660 / 2630 with Stop loss of Rs @ 2626 for the target near @ Rs 2688 - 2707 in short term…..!!!

Ø MUTHOOT FINANCE FO @ RS 1230

Positive Trend @ Rs 1230 / 1212 with Stop loss of Rs @ 1190 for the target near @ Rs 1244 - 1260 in short term…..!!!

Ø HDFC BANK FO @ RS 1188

Negative Trend @ Rs 1188 / 1208 with Stop loss of Rs @ 1212 for the target near @ Rs 1173 – 1160 in short term...!!!

Ø ICICI BANK FO @ RS 396

Negative Trend @ Rs 396 / 412 with Stop loss of Rs @ 424 for the target near @ Rs 388 – 380 in short term...!!!

Ø BIOCON FO @ RS 404

Negative Trend @ Rs 404 / 412 with Stop loss of Rs @ 418 for the target near @ Rs 396 – 390 in short term...!!!

Ø INDUSIND BANK FO @ RS 586

Negative Trend @ Rs 586 / 597 with Stop loss of Rs @ 606 for the target near @ Rs 577 – 570 in short term...!!!

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Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.


Nikhil Bhatt | Research Analyst - SEBI

The author is a well established entrepreneur having a more than 16 years of experience in the field of stock market and financial management.

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