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Pre Stock Market Report, September 2, 2020

 


  1. US markets closed at another record high.
  2. But Indian markets are facing its own issues.
  3. Yesterday was one of the worst volatile days.
  4. Bank Nifty was making more than 300 points move at times.
  5. Yesterday, lot of traders had issues with trading.
  6. The margins were not showing properly , there was loss being showed on screen
  7. Many traders pledged but system was not reflecting any limit.
  8. In last 15 minutes, there was short covering.
  9. Both Nifty and Bank Nifty spot did not move but Nifty and Bank Nifty futures moved higher.
  10. Nifty future closed more than 50 points higher than the spot and Bank Nifty future more than 100 points.
  11. That is a positive sign.
  12. Dollar index was below 92 yesterday but now above 92.
  13. Rupee appreciated yesterday due to dollar index, it was trading below 73,(helped to sustain and moveup yesterday )
  14. FIIs, after selling for more than Rs 3000 crores the day before yesterday due to MSCI rebalancing, turned net buyers.
  15. But DIIs have turned net sellers.
  16. Most of the Asian markets are higher.
  17. But Hong Kong is down, after seeing Hong Kong markets, SGX Nifty also down by 30 points from intraday high of 11546.
  18. Yesterday metal stocks were up significantly.
  19. Today the focus will be the Supreme Court hearing about Moratorium and Interest on Interest waiver case.
  20. But going by the track record, the verdict may not come today.
  21. Even the AGR case was dragged until just one day for the judge to retire.
  22. Volatility due to new pledging system may continue for next few days.
  23. Nifty future may trade between 11420 and 11600.
  24. FOLLOW THE BLOG TO RECEIVE IN MAIL .

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