Daily Report · July 28, 2020

Pre market Report 28 July

  • Yesterday bank stocks were beaten down hard esp ICICI bank
  • It fell down 6%
  • HDFC bank was also down due to Aditya puri stock sale
  • As a result Bank nifty was down around 800 points or 3%
  • NIfty on the other hand was marginally down
  • Reliance hit All time high yesterday. IT stocks also were quite bullish.
  • Tech mahindra also posted good results after market.
  • US markets fared well yesterday
  • Asian markets are too up
  • SGX nifty is up 30 points
  • 11200 and 23000 has become a good resistance for nifty and bank nifty
  • 4 Banks RBL, YES, Indusind, idfc will declare results today.
  • We will have to seee how market reacts to their results
  • FII and DII were both net sellers yesterday. FII turned net sellers after a continuous buying spree.
  • This could mean trend change. Lets see what they do today
  • Only 3 days left for monthly expiry.
  • Nifty 11100-11250
  • Bank nIfty 21500-22500 range for expiry