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Pre - Market Analysis (20th October 2021)

  1. U.S Markets closed higher Yesterday.
  2. Nasdaq is just 1% away from record highs.
  3. Technology stocks are outperforming both in U.S and India.
  4. Right now Asian markets and Dow futures are flat.
  5. SGX Nifty is Trading at 18450 almost flat.
  6. Yesterday was a highly volatile trading day.
  7. Nifty witnessed a huge gap up near 18600 and this got sold into within minutes.
  8. Market recovered swiftly during the day and closed near 18400.
  9. Yesterday there was heavy profit booking in momentum stocks.
  10. All the stocks that have rallied too quick too fast started to fall.
  11. Nifty heavyweights were mostly higher yesterday it was just broader Market collapse.
  12. HDFC Bank ADR was up 2.5% yesterday in U.S Market.
  13. Can expect it to outperform today as well.
  14. Wednesdays are mostly volatile trading days but I feel today could be a silent day as we have witnessed volatility yesterday.
  15. Expect Banking stocks to continue outperforming.
  16. HUL results didn't help the Markets either.
  17. As soon as the resukts were announced all the FMCG Stocks witnessed heavy profit booking.
  18. Expect Markets to consolidate before going higher.
  19. 18300 PE & 18600 CE has the highest open interest.
  20. Option writers are betting on this range for expiry which I feel should work.
  21. Nifty might Trade between 18300 to 18600 today 


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