Daily Report · October 22, 2020

Pre Market Report 22 Oct

  • Markets seem to disregard law of gravity. Bank Nifty gone up by 4ooo pooints from september 25.
  • Nifty Pe has enetered into 3 standard deviation with PE of 34.4. Sooner or later it will correct.
  • US markets however closed lower. The overhang of anticipated stimulus driven rally is burdering the markets.
  • No sight of stimulus yet, looks like it will be done over the weekend.
  • Asian markts are also slightly negative.
  • Yesteday was a roller coater day for our markets.
  • Market went down and recovered 250 points. The fall was so severe that i thought to pull money out of everything but soon recovered with equal fierceness.
  • FIIS bought for 2000 crores and DIIS sold for 1600 crores.
  • Results season has come. Yesterday BAJAJ twins posted not so good results.
  • Bajaj Auto will post results today. Auto sector may react to that.
  • Nifty may trade between 12000 and 11800
  • Bank nifty may trade between 25000 and 24000.