Skip to main content

Pre Stock Market Report, October 28, 2020


  • US markets closed mixed.
  • Due to surge in Corona virus, work from home companies are doing better.
  • That is why Nasdaq was higher while Dow was down for 3 straight days.
  • Even now, US futures are lower.
  • Clearly weakness persists in US markets and that is likely to continue until election.
  • Asian markets are also mixed.
  • SGX Nifty is down, but we have hugely out performed yesterday.
  • October series is nearing its end.
  • In first 9 trading sessions, Nifty shot up 1150 points.
  • After that, for the last three weeks, it is just consolidation.
  • But that consolidation happened with huge volatility.
  • I thought this week, markets will breakout.
  • But that has not happened, so we can expect big move only after US elections.
  • DrReddy, Hero Moto, Axis Bank, L&T, Titan are set to declare results.
  • Yesterday Harley Davidson was up by more than 25% in US due to its tie up with Hero Moto.
  • Bharti Airtel, Tata Motors came with good results.
  • So far, corporate results have been very good.
  • Microsoft came with good results after markets closed in US and that is also good.
  • But they have given cautious guidance.
  • So far, weakness is limited to Europe and US.
  • Asian markets are more or less resilient.
  • FIIs have bought for Rs 3500 crores yesterday.
  • With this FIIs have pumped in Rs 17000 crores in October alone.
  • However DIIs have sold for equivalent amount in October.
  • Reliance saw some short covering but even that was sold into.
  • Kotak bank shot up 12% due MSCI rebalancing.
  • Now a sector which could rise in the generic medicine sector.
  • All the Companies who do Testing , provide energy drinks etc might be the next theme to catch.
  • Pharma ,IT have already performed well and chasing these stocks wouldn't lead to anything great.
  • One has to identify new themes to make big money.
  • That helped Bank Nifty to hugely out perform.
  • Markets have been volatile and that volatility is likely to continue.
  • Usually Wednesday trades are highly volatile.
  • Nifty future trading at 15 points discount.
  • Nifty future may trade between 11780 and 11920.
  • Next 2 days will be crutial for the Markets.
  • Markets could be highly Volatile in next 2 days.
  • India VIX continues to rise.
  • Nifty might Trade between 11780-12000.
  • Results on October 28: 
    L&T, Axis Bank, Hero MotoCorp, Dr Reddy's Laboratories, Titan Company, APL Apollo Tubes, Aptech, AU Small Finance Bank, Balaji Amines, Blue Star, Can Fin Homes, Carborundum Universal, CG Power and Industrial Solutions, Cummins India, Firstsource Solutions, GSK Pharma, Heritage Foods, HSIL, IIFL Wealth Management, ICICI Securities, Marico, Max India, MCX, MOIL, Navin Fluorine International, Piramal Enterprises, PI Industries, PNB Housing Finance, Radico Khaitan, RBL Bank, Route Mobile, Schaeffler India, Tata Coffee, Texmo Pipes & Products, Thyrocare Technologies, UTI Asset Management Company and V-Guard Industries are among 69 companies to announce quarterly earnings on October 28.

Comments

Post a Comment

Popular posts from this blog

Trader’s Questionnaire – Becoming a Professional Trader

  Would you like to become a trader? At WISEMANTRADING   we don’t believe this is possible through just purchasing a course / Mentorship Programme. The road to trading success is a long, hard, winding road, with many potholes, false turns, and dead-ends. Sorry, but that’s a fact. There is no Holy-Grail trading solution  Just as peak performance in sport requires years of exposure to the sport, trading success comes from years of exposure to the markets, allowing constant improvement in the trader’s ability to read changes in market sentiment and react without fear, what we do at WISEMANTRADING  is to reduce your time and money spent on the market and keep you ahead 4-6 years ahead in Trading career.  Disciplined application of the following steps will get you off to a great start to becoming a trader. Please print it out and get started from step one immediately. And as you travel along this long journey to profitability, don’t forget to enjoy the process a...
1 comment
Read more

The Greatest Trading Book – Ever!

  If you‟ve noticed the small number of pages in this blog, you may suspect that this is not the Greatest Trading Book – Ever! And you‟d be correct. But don‟t worry; there‟s a simple explanation. This blog will explain exactly how you can create The Greatest Trading Book – Ever! You see, it‟s not a book you can buy. It‟s something you create. Let me explain…
Post a Comment
Read more

Filtering Noise from Trading

Filter out the noise The signal is the truth. The noise is what distracts us from the truth. – Nate Silver.   As a trader, you are dealing with two types of information, signals and noise. Signals are meaningful pieces of information that cause traders to take action when the odds are in their favor. Signals are things that traders look for; technical buy signals, sell signals, or psychological signals like the market going up on bad news or down on good news, for example. The noise is all the price action, news, predictions, opinions, projections, and forecasts that add no value to your trading. Your ability to filter out the unnecessary and focus on the important things is what will keep you calm while other traders are suffering a psychological downtrend. You have to identify what type of information is meaningful to you. What are your signals? If your trading is only done at the end of the day, then intra-day price action may just be noise for you. Talking heads on financial ne...
Post a Comment
Read more