Bank Nifty is a better trade because we have seen an outperformance yesterday.
SGX Nifty indicates a fresh trade as it is up 60 points.
Yesterday morning there was a variable change which is when we knew about the transition and Joe Biden and the name of Janet Yellen, what we see is a celebration of the rally.
We saw an expansion in the market, especially in the Bank Nifty.
Bank Nifty should complete the unfinished business of 30,000 today. Bank Nifty is still left with 30,000 that would happen today.
Perhaps even at the start but does it stop or does it now go to 32,000? It's a prevailing all-time high because that’s still not in chart territory.
So there is a room in Bank Nifty and from 30,000-32,000 roughly another 8%.
$ 7.5 Bn is what we have got so far this month. A lot of money chasing stocks and still left this month. So can we hit the $ 10 bn target this month?
It's entirely possible the way the Stock Market is going right now and just a couple of more points the Put-Call ratio and the FII long exposure are not in the exuberance zone yet.
We have analyzed the buying of Rs. 55,000 crore in FII this November. Series like these normally end at the highest points.
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This rise was mainly on the back of the progress made on the COVID-19 vaccine, which spurred hopes for a faster economic recovery.
Recently, Pfizer, Moderna, and Sputnik have completed phase 3 of their vaccine trials with successful results. AstraZeneca has also claimed that the vaccine is 90 percent effective in curing the infection.
The hope of a rapid rollout of the vaccine and further recovery in the economy.
