Pre Market Report: Dec 31, 2020 | Stocks and Commodities

 Dec 31, 2020

Time: 8.10 am

Pre Market Report:

1. US markets closd positive.
2. Asian markets are mixed.
3. SGX Nifty is flat.
4. Dollar index below 89.5.
5. Nifty failed to touch 14K yesterday.
6. Usually when markets gap up open, selling comes.
7. That is what happened yesterday.
8. After falling, support came and markets recovered.
9. But Reliance is still struggling to close above 2000.
10. Banks did not do well.
11. But Auto stocks have done well.
12. May be the sectoral rotation begins.
13. Auto sector dis not do well for the last few weeks.
14. As usual FIIs have bought and DIIs have sold in Cash market.
15. HDFC Bank has fully recovered its loss due to RBI restriction of launching digital products.
16. Kotak Bank hit fresh all time high.
17. I shorted Bajaj Finance at 4860, now it is above 5300.
18. But I am still in profit after lot of adjustments.
19. Cement stocks did very well.
20. All 3 Cement stocks in Nifty 50 pack were figured in top 5 gainers yesterday.
21. SGX Nifty indictates flat opening.
22. But somehow I feel we will open above 14K.
23. If Reliance move higher than 2000, then we can expect Nifty to close above 14K.
24. Then 14K is just a number, it is only psychological.
25. If there is any intraday fall of about 100 points in Nifty, it is time to go long.
26. Expiry day volatility will be there.
27. But many markets are closed or will function only half a day.
28. Volume may be very low.
29. That low volume itself will bring volatility.
30. Nifty future may trade between 13920 and 14080.