December 21, 2020
Time: 8 am
Pre Market Report:
- Asian markets are mostly down.
- SGX Nifty almost tested Friday's low.
- Now SGX Nifty is trading around 13735.
- There are some good and bad news.
- Fed removed restriction on banks for buyback of shares.
- US Banks were up in after market trades in US.
- US cleared the Stimulus bill for US$900 billion.
- UK is struggling with new strain of Corona Virus.
- European Futures are down more than 1%.
- Here LIC has been on profit booking spree.
- Everytime Nifty falls by 100 to 150 points and everytime it recovers also.
- FIIs continue their buying spree.
- Reliance will be in focus today.
- Reliance announced new gas production will meet 15% of Indian demand.
- Since Reliance is down more than 20% while markets are at all time high, there may be huge shorts in Reliance.
- Even I do have some short positions.
- Dollar indes moved above 90.
- Crude prices fell more than 3%.
- Gold and Silver are s up due to Stimulus news from US.
- Bank Nifty has been consolidating between 30200 and 31000.
- HDFC Bank is still looking weak.
- We have only 8 more trading sessions.
- So we have to watch FII data closely.
- They may scale down their buying.
- Will Nifty test 14K by the end of this expiry.
- That is a million dollar question.
- I am selling 14100, 14200CEs and 13200, 13100, 13000PEs.
- Expecting consolidation between 13200 and 14000.
- Expect some choppiness.
- Nifty future may trade between 13680 and 13800.
Comments
Post a Comment