Pre Market Report, July 26, 2019 | Stocks and Commodities

July 26, 2019
Time: 8 am

Pre Market Report:

1. US markets closed lower, fell from record high.
2. Asian markets are following US to trade lower.
3. SGX Nifty is lower by 40 points.
4. Yesterday morning, I cautioned that this market is a showdown between FIIs and DIIs and do not get killed by cross fire.
5. Yesterday even most seasoned people made losses.
6. I escaped narrowly, it was a very huge fire fighting day yesterday.
7. Mtm profit/loss swung very widely between 3 pm and 3.30 pm.
8. For one of my clients, from 3 pm to 3.30 pm, mtm loss shot up to Rs 2 lakhs and at 3.30 closed with a profit of Rs 1.5 lakhs.
9. That was a huge swing as the capital was only about Rs 70 lakhs only.
10. FIIs have sold for Rs 126 crores in Cash market while DIIs have bought for Rs 399 crores.
11. Reliance and Bajaj Twins dragged the market yesterday.
12. This time the major selling came only in index heavy weights.
13. HDFC Twins stabilised and volatility shifted to Bajaj Twins.
14. Last two weeks, only one big question is in my mind.
15. When entire Global markets are up, we kept going down.
16. What will happen if Global markets go down?
17. That has happened today.
18. So we have to see what happens to our markets today.
19. If today also, on closing basis, if it close lower than yesterday, then there is no reason to be bullish in this market.
20. So today's close is very important for this reason.
21. Earlier once FIIs stopped selling one day only to sell more aggressively in the next few days.
22. Similarly yesterday they stopped selling.
23. Will they sell aggressively today?
24. Will the market recover without touching 200DMA around 11100?
25. So there are so many questions.
26. Only market can give answer.
27. This July series was the worst series in last many years.
28. I think mid caps fell 8% and small caps fell 11%.
29. Nifty fell 750 points from budget day high.
30. Nifty future may trade between 11240 and 11360.