Pre Market Report, December 22, 2020 | Stocks and Commodities

 December 22, 2020

Time: 8 am

Pre Market Report:

1. US markets ended mixed.
2. But Europen markets fell 3%.
3. Until yesterday afternoon, European futures were down only 1%.
4. After their markets open, they fell 3%.
5. East Asian markets have not factored in this fall.
6. So most East Asian markets are down.
7. We have our own problems.
8. I will come out with YouTube Video today, what possibily could have triggered such a great fall.
9. SGX Nifty is up by about 120 points.
10. India VIX was up by about 25%.
11. Yesterday's fall was one of the worst after Corona Virus.
12. At one point, Nifty was down more than 500 points and Bank Nifty more than 1500 points.
13. Now European futures are higher.
14. So we can expect some recovery in our markets.
15. FIIs have sold just for Rs 323 crores.
16. DIIs have bought for Rs 486 crores.
17. So the sell off is not due to institutions.
18. Even Dow future was down 500 points when our markets closed, but closed in Green.
19. So it was a recovery of more than 500 points.
20. One third of Nifty 50 stocks fell more than 5%.
21. If yesterday's market action is an aberration, then Nifty should reclaim 13500 very soon.
22. I will not be surprised if that happens today itself.
23. But markets are expected to be highly volatile.
24. Bull market corrections are always fast and furious.
25. Nifty future may trade between 13300 and 13500.