Pre Market Report, December 23, 2020 | Stocks and Commodities

 December 23, 2020

Time: 8 am

Pre Market Report:

1. US markets closed mixed.
2. Trump applying break for US Stimulus.
3. That is really a bad news.
4. Politicians are always politicians, never bothered about common people who are suffering.
5. Due to this shocking news, Asian markets opened lower.
6. But many of the Asian markets are recovering to trade in Green.
7. SGX Nifty opened at 13386 and now trading around 13450.
8. That is still 40, 50 points lower than yesterday's close here.
9. Yesterday was one of the worst volatile day.
10. Huge moves on both sides.
11. Nifty was up 100 points in the morning, fell 230 points after that, then shot up 240 points from the low.
12. Bank Nifty was even more volatile.
13. Nifty did not break day before yesterday's low but Bank Nifty broke and fell another 200 points.
14. Bank Nifty took support at 29000 and from there shot up 700 points.
15. IT stocks are the first one to recover from the lows.
16. Many IT stocks hit fresh 52 week high, including Infosys.
17. IT companies are likely to declare very good results.
18. Among Banks, ICICI Bank was very strong while Kotak Bank and HDFC Bank were highly volatile.
19. FIIs have bought for Rs 1153 crores.
20. DIIs have sold for Rs 662 crores.
21. As expected FIIs are buying less and DIIs are selling less.
22. Reliance is the weakest among all large cap stocks.
23. Struggling below 1950.
24. Broke 1900 yesterday also, in fact when markets opened higher, Reliance was the first stock to fall.
25. Significant recovery will be difficult as long as Relaince and HDFC Bank are struggling.
26. Remember, these two stocks contribute about 25% of Nifty.
27. Expect markets to be volatile.
28. With Rupee depreciation, IT stocks will be in focus.
29. Santa claus rally may be missing this time.
30. Nifty future may trade between 13360 and 13540.