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Pre Stock Market Report, October 21, 2020

 

  1. US markets closed higher.
  2. We will know the outcome of Stimulus talk in another few hours.
  3. But markets expecting a positive news.
  4. That is why Asian markets are higher.
  5. SGX Nifty is above yesterday's high.
  6. Yesterday IT stocks started moving higher.
  7. As expected HDFC Bank also did well.
  8. Reliance was the only drag in the market.
  9. If there is any short covering in Reliance, Nifty can kiss 12K.
  10. But markets can be volatile today.
  11. FIIs have bought for Rs 1585 crores.
  12. That is a huge buying for second straight day.
  13. DIIs have sold for Rs 1633 crores.
  14. Last two days alone, FIIs have bought for more than Rs 3000 crores.
  15. Oil prices fell on Wednesday after a surprise climb in U.S. crude stockpiles added to concerns about a global supply glut as a spike in global COVID-19 cases fuels demand fears and production returns in Libya.
  16. Govt may cap royalty payment to foreign partners of Indian companies
  17. Reliance Jio and Qualcomm Technologies have successfully tested their 5G mobile network in India, the two said in a statement on October 20. Jio and Qualcomm announced they achieved over a 1 Gbps speed on the Reliance Jio 5GNR solution and the Qualcomm 5G RAN platform. With 5G technology, users will experience the benefits of higher data speeds, low latency communications and enhanced digital experiences.
  18. HUL came with good results.
  19. Today Bajaj Finance, Bajaj FinServe, Ultratech are set to declare results.
  20. Everyday expecting some short covering in Reliance but not happening.
  21. Now there is a 5G trial news with Qualcom.
  22. Let us see whether this news triggers a short covering.
  23. India VIX keep moving higher.
  24. Yesterday VIX movement may be because of US Stimulus talk and PM Speech at 6 pm yesterday.
  25. But PM speech was restricted to Corona infections.
  26. Put writers relieved as there was no bad news and Call writers relieved as there was no good news.
  27. Nifty is consolidating between 11660 and 12000.
  28. Last few days, even midcap and small cap are doing well.
  29. Nifty future may trade between 11840 and 12020.
    SOURCE "PR|MC|SM|AD

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