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Pre - Market Analysis (20th October 2020)

  1. US markets closed more than a percent lower Yesterday.
  2. Asian Markets are Flat.
  3. SGX Nifty is Trading Near Yesterday closing near 11850.
  4. The reason why SGX Nifty is flat despite a big fall in U.S Markets is Because Dow Futures are up by half a percent now.
  5. U.S Markets dont like Uncertainty , any market doesn't like Uncertainty.
  6. Due to Stimulus talks being halted theres a lot of Uncertainty going around.
  7. This is causing profit booking in Emerging Markets.
  8. HDFC Bank came out with its results Yesterday.
  9. But the stock reacted mutedly on its Numbers.
  10. All other private banks were up 4-5% Yesterday.
  11. HDFC Bank was up about just a percent.
  12. So Expecting Markets to Consolidate now.
  13. Next 3 days we may expect Consolidation between 11700 to 12000.
  14. If any of these levels gets taken out then there will be a big rally towards that side.
  15. Until then one should play for this range.
  16. The Trend is intact and strong.
  17. There May be hiccups in between but the Trend will continue to follow.
  18. Another thing which I've been observing from many days is VIX is slowly inching higher.
  19. VIX isnt falling and inching higher with each passing day.
  20. This shows that Volatility is going to rise in coming weeks and there might be big swings.
  21. Take those to your Advantage.
  22. Nifty might Trade between 11740-11920.


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