Pre Market Report, December 18, 2020 | Stocks and Commodities

 December 18, 2020

Time: 8 am

Pre Market Report:

1. US markets closed higher.
2. Asian markets are mixed.
3. SGX Nifty is slightly higher.
4. Dollar index below 90.
5. Yesterday, I thought there will be some selling due to expiry.
6. I also thought India VIX will fall significantly.
7. Both has not happened.
8. There was an intraday fall of only 50, 60 points in Nifty.
9. Nifty future almost touched 13800.
10. From 10800 on September expiry, in 11 weeks, Nifty shot up 3000 points.
11. We have only 9 more trading sessions for this series.
12. FIIs continued their buying spree in December.
13. We can expect some consolidation now in the markets.
14. FIIs have pumped in Rs 36K crore so far in December.
15. Many frontline stocks hit fresh 52 week high yesterday like HDFC, Kotak Bank, Bajaj Finance, Divis Lab, etc.
16. HDFC Bank recovered all its losses that came after RBI restriction.
17. This rally is just unbelievable.
18. Not many people have captured to rally.
19. Now if FOMO (Fear Of Missing Out) factor comes in, there will be more rally.
20. But that we can expect only next month.
21. Since we have only 9 more days in December, Year End factors, will make markets to consolidate.
22. Reliance is still struggling to cross 2000.
23. Meaningfull short covering will have to come in Reliance for Nifty to inch towards 14K.
24. Will Nifty hit 14K by December end?
25. That is a million dollar question.
26. That depends on Reliance performance.
27. For the time being, my answer is NO.
28. I am selling Call options of 14000 and higher.
29. US approved Moderna's vaccine.
30. There are no major news flow.
31. Nifty future may trade between 13680 and 13820.