Pre Market Report, November 20, 2020 | Stocks and Commodities

 November 20, 2020

Time: 8 am

Pre Market Report:

1. US markets closed higher.
2. But after markets close, US Futures are lower.
3. Trump administration asked Fed to return unused money set aside for Corona relief.
4. But Fed is not in favour of that decision.
5. US Futures are down after this news.
6. US political parties restarted the negotiation for Stimulus.
7. But nothing concrete will happen until Trump accepts Biden as US President.
8. For next few weeks, 3 things will make markets volatile.
9. Corona Virus or Vaccine, Trump or Biden, Stimulus or Not.
10. US markets recovered from third day low.
11. Usually that happens in a super bull market.
12. Markets fall due to profit booking and once it falls for three days, buying comes at lower levels.
13. Coming back to our markets, when Global cues were negative yesterday, our markets hit all time high in the morning.
14. Then came the sell off, Nifty fell more than 200 points and Bank Nifty more than 900 points from intraday high to intraday low.
15. It was very volatile due to weekly expiry.
16. Now SGX Nifty is trading around 12800.
17. In 3 weeks, Nifty shot up from 11500 to 13000.
18. So some consolidation is required.
19. Nifty may consolidate between 12500 and 13000 but with huge volatility.
20. Bank Nifty making 800-1000 points move on almost everyday.
21. Reliance has been trading below Rs 2000 consistently.
22. Banks came under severe selling pressure.
23. Bank Nifty should take support at 28700.
24. Kotak Bank is the only Banking stock that is looking very strong.
25. Auto stocks opened higher on the back of Hero sales data but gave up the gains by the end of the day.
26. Even IT stocks are not looking good.
27. Midcaps and small caps are doing well compared to large caps.
28. FIIs have bought for more than Rs 1000 crores in Cash market.
29. Last one hour of trade today is very important, to see whether Bulls losing grip or not.
30. Nifty future may trade between 12720 and 12900.