Daily Report · July 27, 2020

Pre-market Report 27 july

  • This weekend remained clouded with SEBI’s new rules regarding margin and pledging mechansm.
  • We need to see how market will react to that.
  • Friday our markets were under pressure but regained most of it before market close.
  • ICICI bank declared results and results seem good. Market reaction will tell the story. I’m bullish on icici bank, I will buy if it crosses 395
  • Today also kotak bank will declare results
  • ITC also declared good results.
  • US and asian marekts are trading higher
  • DXY. dollar index tanking and showing weakness.
  • Metals gold, silver are rallying up hard. gold crossed $1900 and silver $23
  • FII’s buying slowing down, they bought for 400 cr on friday
  • US govt to announce stimulus package today.
  • It will be interesting to watch how markets react to this.
  • ITC, ICICIbank, Kotakbank and ofcourse Reliance( which surprisingly didn’t sell any stake in the weekend) will be in focus today
  • Nifty reistance at 11200-11300
  • Bank Nifty may face reisatnce at 23000-23200