Pre Market Report, February 20, 2020 | Stocks and Commodities

February 20, 2020
Time: 8.10 am

Pre Market Report:

1. US markets closed in Green.
2. Asian markets are mostly higher marginally.
3. Hong Kong turned negative after positive start.
4. SGX Nifty is down by 20, 30 points.
5. Yesterday in my Twitter, I mentioned IDEA will decide the sentiment of the market for next few days.
6. Yesterday IDEA shot up 50% from low to high.
7. Now there is a news that Govt planning to help telcos.
8. Auto stocks are doing very badly.
9. Bajaj Finance hit 52 week high.
10. FIIs have sold for Rs 190 crores while DIIs bought for Rs 590 crores.
11. Corona Virus is still a threat to market rally all over the world.
12. South Korea market fell due to increase in corona virus cases.
13. Gold hit 7 year high due to the fear.
14. So on any rise, it is better to lighten up the positions.
15. Kotak Bank shot up nearly Rs 40 after RBI approval for equity dilution, but closed almost flat.
16. Same thing for IndusInd Bank, closed almost flat, despite IDEA shooting up so much.
17. Even SBI closed almost flat after SBI Card IPO news.
18. So Banking stocks clearly facing resistance.
19. China Banks cut loan rates and that is why China markets are higher today.
20. Today is weekly expiry.
21. Markets are likely to ve volatile.
22. Tomorrow is a holiday.
23. So ahead of 3 days weekend, markets are likely to be even more volatile in the last one hour.
24. Nifty future may trade between 12050, around yesterday's low.
25. Resistance may come around 12180.