Pre Market Report, November 11, 2020 | Stocks and Commodities

 November 11, 2020

Time: 8 am

Pre Market Report:

1. US markets once again closed mixed. 
2. Asian markets are mostly higher.
3. SGX Nifty is trading around 12700.
4. Yesterday, market has given a chance, gave a dip in the morning.
5. Previous day night, SGX Nifty high was 12800.
6. Yesterday, Nifty future came down to 12500.
7. Then the rally resumed.
8. In the afternoon, one dip came, Nifty fell 100 points and Bank Nifty 500 points.
9. But recovered in no time.
10. Day before yesterday also, same pattern, but closed at day's high.
11. Yesterday Nifty closed at day's high but not Bank Nifty.
12. So it is high time, we need to consolidate, at least for two days.
13. Banks out performed.
14. IT, Pharma and FMCG fell.
15. But ITC was up due to its Hotel business.
16. All Hotel stocks shot up.
17. FIIs have pumped in Rs 20,000 crores in 4 days.
18. We need to see how much more they will be pumping in.
19. DII selling is not able to arrest the run away rally.
20. But I feel that markets will consolidate and weekly expiry will add volatility to the markets.
21. ICICI Bank ADR is down while HDFC Bank ADR is up.
22. Infosys ADR is also down.
23. SO markets may not make a big move like last two days.
24. European and US Futures are slightly lower.
25. We may have some volatility in the afternoon.
26. Usually Wednesday trades are highly volatile.
27. Bihar elections, once again Opinion polls went wrong.
28. But that is a non event for markets.
29. Expecting consolidation with huge volatility.
30. Nifty future may trade between 12620 and 12780.