Daily Report · August 18, 2020

Pre Market Report 18 Aug

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  • US markets remain mixed.
  • Nasdaq, the technology index is at all time high.
  • Tesla hit all time high yesterday. It increased it market cap to tune of one General Motors.
  • Gold and silver has started upward again. Gold is now at $1990 and silver at $27.8
  • Bitcoin and other crypto assets are also on teh bull run.
  • Though stock markts have slowed down now as S&P approaching All time high.
  • Now its about time, something will trigger the bubble.
  • IT stocks performed well yesterday.
  • SC is mulling over asking for AGR dues from Reliance Industries which is using RCOM infra.
  • RIL has disagreed to pay for that. Reliance will remain weak until this issue is solved.
  • So AGR case keeps on dragging. Hearing adjourned to Wednesday.
  • FIIs continue to buy , though small amount of Rs 333 crores. DIIs on the other hand are on selling spree. Sold Rs 718 Crores.
  • HDFC bank is caught in news now regarding US regulator investigating.
  • Both Reliance and HDFC bank continue to be under pressure.
  • If pressure is released, we will see a good rally upside.
  • Nifty may trade betweeen 11200 to 11350.
  • Bank Nifty may trade between 21500- 22000.