Pre Market Report, July 27, 2020 | Stocks and Commodities

July 27, 2020

Time: 8 am

Pre Market Report:

1. Happy to announce that I made more than Rs 1 crore profit in the account, which I have been sharing in YouTube.
2. Not only that I made more than Rs 1 crore, in the last one month I have been updating all my trades in YouTube, people who are paid subscribers also made lot of money.
3. In fact people who attended our workshop, knew the rationale behind such trades and took positions confidently.
4. If you are interested in attending workshop, visit www.workshop.prsundar.com.
5. If you want to subscribe to my YouTube channel, click https://www.youtube.com/channel/UCS2NdYUmv_PUyyKeDAo5zYA/join
6. Last Thursday and Friday, US markets fell.
7. But India did not react to US markets.
8. That is due to huge out performance of Reliance.
9. Reliance shot up about Rs 170 in two days and contributed about 100 points to Nifty rally.
10. But on Friday, Bank Nifty came under huge selling pressure.
11. Tis week is very important for Bank Nifty.
12. Saturday, ICICI Bank came with good results and today Kotak Bank will be declaring results.
13. Together, they contribute more than 20% of the Bank Nifty.
14. ITC also came out with good results on Saturday.
15. Both in ITC and ICICI Bank, I have Call Ratio spreads.
16. In ITC, I bought 197.50CE and sold 2x205CE.
17. In ICICI Bank, I bought 380CE and sold 2X400CE.
18. SGX Nifty is trading about 40 points higher.
19. Asian markets are generally higher.
20. Japan is down because it was closed on Friday.
21. Now a days, Asian markets are not reacting to US markets in 1-1 proportion.
22. Dow futures are higher after two days of fall.
23. FIIs continue to buy, though thw quantum reduced.
24. FIIs have bought for little over Rs 400 crores.
25. But DIIs have sold for more than Rs 1000 crores.
26. On one side Global cues are good, ICICI Bank results are good, Kotak Bank results due, on the other side, RBI Governor report on Banks was not good.
27. So it will be interesting to see how Bank Nifty performs today.
28. Another key stock to focus is Reliance, which closed significantly higher.
29. So ITC, Reliance, ICICI Bank, Kotak Bank are some of the stocks that will be in focus today.
30. Nifty may find huge resistance between 11200 and 11300.
31. Bank Nifty needs to perform for Nifty to break out.
32. Nifty future may trade between 11120 and 11280.