Pre Market Report, December 24, 2020 | Stocks and Commodities

 December 24, 2020

Time: 8 am

Pre Market Report:

1. US markets once again ended mixed.
2. Asian markets are mostly positive.
3. SGX Nifty is higher by about 30 points.
4. Yesterday around this time, SGX Nifty was lower.
5. But when our markets opened, story changed.
6. Nifty was up significantly.
7. Monday, markets fell significantly, now it is a V shape recovery.
8. We are coming to the end of fourth week in December series.
9. We have only 4 more trading session next week.
10. Volumes may go down now.
11. That may bring some volatility.
12. Except Reliance and HDFC Bank, all other stocks are doing well.
13. IT stocks leading the rally.
14. Most IT stocks are at all time high.
15. FIIs have bought for Rs 530 crores.
16. Their volume has aslo come down by about 40%.
17. Usually FIIs become less active between Christmas and New Year.
18. However DIIs did not stop their selling spree.
19. They have sold more than double of what FIIs have bought.
20. Auto stocks are not doing well.
21. Maruti has fallen about Rs 500 in last one week.
22. Focus will be on Mrs Bectors IPO listing.
23. Due to violent moves in last few days, Open Interest data will be of no use to predict the expiry today.
24. Huge OI added at 13500PE yesterday and significant OI added at 13600PE.
25. There was unwinding in CEs of 13600CE and below.
26. Significant OI added at 13650CE.
27. So we can expect some consolidation, after such a fantastic rally.
28. Day before yesterday, Nifty future low 13200, yesterday high 13620. That is 420 points rally.
29. Bank Nifty also shot up nearly 1000 points.
30. Nifty future may tarde between 13580 and 13720.