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

 August 24, 2020

Time: 8 am

Pre Market Report:

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2. US markets ended in Green on Friday.
3. Another record high for US markets.
4. Asian markets are generally positive.
5. SGX Nifty is higher by about 20 points.
6. On Friday, markets were higher, supported by HDFC Bank.
7. But Reliance is the drag.
8. For second time in this series, Reliance Futures closed below 2100.
9. IDEA will be in focus as it is out of trading ban and due to AGR Case.
10. Will Reliance move above 2100? That is an important question today.
11. I am planning to add some short positions, if Reliance closes below 2100 today.
12. Reliance-Future retail deal may be a good news for Reliance.
13. FIIs were net buyers for Rs 410 crores in Cash market on Friday.
14. DIIs were net sellers for Rs 251 crores.
15. On Friday night, both ICICI Bank ADR and HDFC Bank ADR closed in Green in US.
16. So Bank Nifty may out perform today.
17. PSU Banks may be in focus after PNB results.
18. Auto stocks are in bull market of their own.
19. Just before Corona, Hero Moto was trading below Rs 2500, now trading above Rs 3000.
20. Nifty future may trade between 11360 and 11480.