Pre Market Report, Dec 28, 2020 | Stocks and Commodities

 Dec 28, 2020

Time: 8 am

Pre Market Report:

1. US Stimulus bill has been signed by Trump.
2. Asian markets are positive.
3. SGX Nifty around 13800.
4. That is indicating fresh all time high for Nifty.
5. Last Monday was the Technical Glitch day.
6. Nifty fell 4%, Bank Nifty fell 5%, mid cap and small cap fell 6%.
7. That day I stated that bull market corrections usually fast and furious.
8. I also siad, in few weeks time, we will see fresh all time high.
9. But that is happening in few days time.
10. We have only 4 trading sessions.
11. That too with less volume by FIIs.
12. On Thursday Bank Nifty out performed.
13. Reliance also started moving higher.
14. IT stocks came under slight profit booking.
15. More Puts are written at 13500.
16. So 13500 should be a good support.
17. FIIs continued to buy though volume dried up.
18. DIIs continue to sell aggressively.
19. Markets can be volatile due to reduced volume.
20. Auto stocks have not been doing well, particularly Maruti.
21. Towards the end of the month, there will be some speculation in Auto stocks due to monthly sales data which is due on Jan 1, 2021.
22. We have to see how Reliance performs, last time it came under severe selling pressure around 2050.
23. Kotak Bank hit fresh all time high and looking good.
24. ICICI Bank and Kotak Bank are the strongest stocks in Banking Pack.
25. One can conisder long in Axis Bank at current market price with SL at 575.
26. One can consider long in Sun TV at current market price with SL at 455.
27. We can expect some selling if markets open gap up.
28. Any such intraday dip, I will sell 13400PE.
29. Expect volatile but rangebound markets.
30. Nifty future may trade between 13720 and 13840.