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Pre Stock Market Report, October 19, 2020

 

Pre Stock Market Report, October 19, 2020

  1. US markets closed higher on Friday.
  2. But they closed much lower form intraday high.
  3. Over the weekend, Pelosi has set Tuesday as deadline for Stimulus talks.
  4. So hopes are reviving again on Stimulus front.
  5. Just as Narendra Modi did surgical strike just before elections and made majority in his Favour.
  6. Trump seems to be making stimulus as his weapon for Elections.
  7. So Asian markets are higher.
  8. SGX Nifty is up nearly 80 points.
  9. That is a big gap up.
  10. China data is mixed.
  11. Retail sales was up but GDP data is below street expectation.
  12. For last two trading sessions, both FIIs and DIIs were net sellers.
  13. IT stocks fell despite good results.
  14. Reliance broke 2200.
  15. These are negative news.
  16. On positive side, we have better Global cues.
  17. FIIs in F&O seems to have more longs than shorts.
  18. Since IT stocks and Reliance fell on back of news flow, we can say that had news has already factored in.
  19. For last few months, there were many sell offs.
  20. Intraday falls were very severe, on August 31, Nifty fell 450 points intraday.
  21. But after few weeks that day's high crossed.
  22. If we go by that, Nifty should cross 12000 sooner or later.
  23. Oil prices edged up in early Asian trade on Monday ahead of China’s economic growth data, which is expected to show recovery in the top oil importer, offsetting concerns of an impact from the virus’ resurgence on consumption and rising supply.
  24. Higher NPAs hinder monetary policy transmission: RBI
  25. Passenger vehicle exports tumble 58% in H1FY21 as COVID-19 disruptions take toll
  26. US retail sales grow for 5th month in a row
  27. We need to see how HDFC Bank reacts to its results.
  28. If HDFC Bank does well, other banks will also do well.
  29. Bank Nifty has to move higher if Nifty has to cross 12000 in short term and 12400 in medium term.
  30. Reliance, IT Stocks, Banking Stocks will be in focus today.
  31. Intraday volatility will be there as both FIIs and DIIs are selling.
  32. Even on Friday, though markets opened with huge gap up, it broke previous day's close intraday.
  33. Though markets went up on Friday, Call premiums did not shoot up.
  34. That shows that we are in for consolidation than trending as share in Telegram channel also CLICK TO JOIN
  35. Nifty may consolidate between 11700 and 12000 for next few days.
  36. Today Nifty future may trade between 11770 and 11920.
  37. Primary trend is Upwards.
  38. Intraday Volatility and dips will be there.
  39. It's a buy on dips market as of now.
  40. Nifty might trade between 11720-11880
  41. Results on October 19
    Britannia Industries, HDFC Life Insurance Company, L&T Technology Services, ACC, Century Textiles, CSB Bank, Borosil Renewables, Hatsun Agro Product, Bank of Maharashtra, Rallis India, Sagarsoft (India), Shish Industries, Skipper, Smruthi Organics, Sumeru Industries, Tata Metaliks, Texmaco Infrastructure, Texmaco Rail, Titan Biotech, Titan Securities and Chemo Pharma Laboratories will announce quarterly earnings on October 
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