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

 October 30, 2020

Time: 8 am

Pre Market Report:

1. US markets closed higher after few days of severe sell off.
2. But US futures are lower now.
3. After market ours, Twitter down 14%, Amazon down 2%, Apple down 4%, Alphabet up 7%.
4. So you can imagine the kind of roller coaster ride US markets will go through.
5. We have just 3 trading sessions before US elections.
6. So there is bound to be lot of volatility.
7. Last week in my "Dalal Street Week Ahead" YouTube video, I mentioned that this week Nifty will make 250 to 300 points move on either side.
8. It has moved on the down side. (But I expected the move on the upside).
9. Asian markets are mostly negative following US futures.
10. It seems that we will consolidate in the region 11600-11700 for next few days.
11. Markets are expected to make a big move again after US elections.
12. Again I am expecting the move on the higher side.
13. But who knows I may be wrong again.
14. Coming to today's trade.
15. SGX Nifty is down slightly.
16. That is because negative Global cues and selling by both FIIs and DIIs.
17. FIIs have sold for 421 crores and DIIs have sold for Rs 253 crores.
18. Today IOC, IndusInd Bank, Reliance are set to declare results.
19. Tomorrow ICICI Bank will declare results.
20. Stock specific action may continue while at index level there may not be any big move.
21. Planning to take some trades in Reliance and ICICI Bank.
22. Will be updating my trades to my YouTube paid members.
23. India VIX is still moving higher.
24. It is likely to go down only next week.
25. So taking some trades for expected volatility crash may be rewarding at this time.
26. Now we have better Local cues and not so good Global cues.
27. If there is a clear winner in US election, markets can rally all over the world.
28. We may try to regain 12K in November.
29. As long as yesterday's low is not broken, we can expect some sharp move towards the end of the day.
30. Nifty future may trade between 11580 and 11720.