Pre Market Report, June 30, 2020 | Stocks and Commodities

June 30, 2020

Time: 8 am

Pre Market Report:

1. Please note that there is a fake telegram channel using my name and my photo, I have complained to Telegram, they are said, they are taking action. My original telegram channel is "PRSundar" only.
2. US markets ended positive on the back of good housing sales data.
3. Now the world is caught between stimulus and corona.
4. Markets go down, people say, corona getting bad.
5. Markets go up, people say, don't fight liquidity.
6. Markets are likely to consolidate with huge moves.
7. Asian markets are higher.
8. SGX Nifty is up nearly 60 points.
9. Yesterday Reliance took a back seat.
10. ITC did well after its results.
11. I advised selling ITC Put option for paid subscribers in YouTube.
12. In fact that was my first call for Pro Traders.
13. That has worked very well.
14. Banking stocks have been under pressure.
15. But HDFC Bank is looking very strong, after fund raising announcement.
16. If HDFC Bank did not go up, Bank Nifty would have collapsed.
17. Already Bank Nifty has fallen more than 1500 points from recent high.
18. Kotak Bank is moving violently between 1300 and 1400, yesterday I sold Kotak Bank 1500CE.
19. ICICI Bank has been looking very wek after their fund raising news.
20. Anyway I think, it will take good support at 300.
21. I sold ICICI Bank 300PE.
22. Markets are likely to be volatile towards the end of the day.
23. I do not have to tell you the reason.
24. FIIs seems to have started selling once again.
25. But DIIs are supporting.
26. Yesterday I expected Nifty future to take support at 10220, but it even broke the next support of 10180.
27. But on closing basis, it is higher than 10220.
28. Today also I feel that 10220 should be the support.
29. Resistance will be around 10400.
30. If markets are bullish, there can be some short covering (Remember Nifty future trades at huge discount), Nifty future may rally without even Nifty moving higher.
31. Nifty future is trading 60 to 70 points discount, that may get wiped out.
32. That alone will contribute 60, 70 points for Nifty future rally.
33. I am expecting this to happen towards the end of the day.
34. But it may not be one way, there will be some dip before that happens.
35. Bank Nifty future is also trading at a huge discount.