December 17, 2020
Time: 8 am
Pre Market Report:
- US markets ended mixed.
- Asian markets are also mixed.
- Retail sales data came lower than expected in US.
- But there seems to be some progress in US Stimulus talks.
- We can expect some stimulus announcement this weekend.
- US Fed maintained status quo, as expected.
- But their comments were Dovish.
- SGX Nifty is slightly lower.
- Coming to yesterday's market, no one thought of this kind of rally.
- Nifty future crossed 13700 before closing slightly lower.
- HDFC shot up about Rs 100 in just one day.
- Though many banks were weak, HDFC Bank helped Bank Nifty.
- Bank Nifty under performed Nifty.
- Reliance is still struggling below 1980.
- Remember the recent high is 2050.
- So it is likely to be weak as long as it is trading below 2050.
- Auto stocks did well as there was a news that Govt may consider reducing GST.
- Autos, NBFCs, HFC are in focus.
- We are coming to the end of 3rd week in December series.
- After today's seesion, there will be only 9 more trading sessions.
- More OIs added at 13750 and 13800.
- For today's expiry, highest OI among Puts is at 13600PE.
- Highest OI among Calls is at 13750CE.
- But we can expect some volatility due to weekly expiry.
- Both Nifty and Bank Nifty futures added more OI.
- May stocks closed lower than intraday peak but still Nifty future closed very near the peak.
- FIIs continue to buy at the rate of Rs 2500 crores.
- DIIs also selling equally aggressively.
- Markets may consolidate or correct a little from here.
- Nifty future may trade between 13580 and 13720.
Comments
Post a Comment