Pre Market Report, July 24, 2020 | Stocks and Commodities

July 24, 2020

Time: 8 am

Pre Market Report:

1. Those who are interested, can register for the online workshop at www.workshop.prsundar.com
2. US markets fell.
3. Technology stocks lead the decline.
4. Dow fell about 350 points while Nasdaq fell about 250 points.
5. US people seeking unemployment benefit also increased.
6. Asian markets are down.
7. Taiwan and Korea turned slightly positive now.
8. SGX Nifty is down by about 40 points.
9. Yesterday, Nifty was up by about 80 points, half of that was contributed by Reliance.
10. Reliance was up more than Rs 70.
11. Amazon is interested in investing Reliance Retail.
12. After so many investments in JIO, now Reliance Retail starts getting investment.
13. Reliance market cap crossed 13 lakh crore.
14. HDFC Bank recovered on FII buying and that is why Bank Nifty was strong.
15. FIIs were net buyers for Rs 1740 crores.
16. DIIs were net sellers for Rs 932 crores.
17. Bank Nifty started at 21500 in the beginning of this series, went to 23000, then came down to 21000 and again went up 23000.
18. It is huge volatile within 2000 points range.
19. Reliance news and strong FII interest, lot of good corporate results will keep our markets active.
20. Today many corporate results are due, like ITC, JSW Steel, Asian Paints, etc.
21. Tomorrow, ICICI Bank results is an important one.
22. ICICI Bank is already trading at its swing high.
23. So any disappointment, shares may fall.
24. So markets are likely to be dynamic for next few days.
25. Nifty may trade between 11000 and 11400 until the end of the expiry.
26. After a long time, July series, Nifty future was up by 1000 points.
27. Last time this happened was in 2019 March series.
28. IT stocks have been under correction mode for last few days and now they will be in focus.
29. Reliance, ITC, Asian Paints, JSW Steel, BIOCON, ICICI Bank will be in focus tooday.
30. Nifty future may trade between 11100 and 11250.