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

 November 24, 2020

Time: 8 am

Pre Market Report:

1. US markets closed higher on Vaccine hope.
2. After Pfizer and BioNTech, now Astrazeneca joined the Vaccine club.
3. Now US and Europe futures are also higher.
4. Former Fed Chair, Janet Yellen, is likely to be next Treasury secretary in US.
5. Asian markets are also higher.
6. But China, Hong Kong and SGX Nifty are not sharing the optimism.
7. Who knows, most of the time our markets rallied when there was no indication by SGX Nifty.
8. Reliance has recovered as expected. Last time Reliance took support around 1850, now around 1900.
9. But recovery was not as strong as expected.
10. It is still nearly 20$ below its recent all time high.
11. HDFC fell 4% intraday and that was one of the worst fall in recent days.
12. It was HDFC and HDFC Bank that dragged the markets along with ICICI Bank.
13. But IT stocks and Reliance out performed.
14. Nifty was up and Bank Nifty was down yesterday.
15. But OI increased in Bank Nifty future and that shows, it is only a profit booking, not shorting.
16. FIIs have once again bought for close to Rs 5K crores.
17. But still Nifty is struggling to touch 13K.
18. DIIs as usual sold for nearly Rs 3K crores.
19. Nifty 12900PE added huge Open Interest of more than 10 lakh shares.
20. Remember, day before yesterday, 12800PE saw such addition, markets went higher yesterday.
21. Smart money think Nifty will take support at 12800.
22. Call Options also added more Open Interest at 13000, 13100, 13200.
23. Markets are consolidating with huge volatility as expected.
24. Bank Nifty is making huge moves on everyday basis.
25. Nifty future may trade between 12820 and 13020.