August 21, 2020
Time: 8.10 am
Pre Market Report:
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- US markets closed higher.
- Day before yesterday, US as well as all other countries were thinking Corona virus is not a big problem.
- Fed minutes said Corona Virus is a big problem.
- Immediately everyone realised that Corona is a big problem and sold shares heavily.
- Nifty gap down more than 130 points.
- But all these happened just for one day.
- Yesterday, everyone is US realised, what Fed said is wrong.
- Now Cornoa virus is not a big problem.
- Markets shot up in US, to fresh high yesterday.
- So all Asian markets are also up.
- SGX Nifty is up by 80 points.
- So this is how stock market works.
- This why most educated people fail stock market.
- Despite large caps falling, midcaps did well yesterday.
- AGR hearing adjourned once again.
- Reliance took support at 2100 once again.
- Bank Nifty moved violently once again.
- Expiry was very volatile.
- Both FIIs and DIIs were net sellers in Cash market.
- FIIs have sold for Rs 268 crores.
- DIIs have sold for rs 672 crores.
- This whole month is a consolidation month.
- That is likely to continue until either AGR verdict or US stimulus.
- Divis Lab and SBI Life entering Nifty 50.
- That may lift sentiment in Pharma and Insurance (HDFC Life) stocks.
- SBI Life entering Nifty 50 may help even SBI sentimentally.
- Zee and Bharti Infratel is out of Nifty 50.
- Since the gap up is big, markets are likely to consolidate after gap up.
- Nifty future may trade between 11320 and 11460.
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