Daily Report · August 3, 2020

Pre Market Report 3 August

  • US futures were down on friday, so we were also under selling pressure.
  • After market open, US markets recovered and closed almost in green.
  • Right now US futurres are flat.
  • But asian markets are mixed, SGX nifty is down 20 points.
  • Auto Sales data came during the weekend. It came out strong
  • So auto stocks will be in focus today
  • Pharma stocks were very bullish on friday. Almost all of the stocks broke out of their ranges
  • Sunpharma results were ok but better than expected
  • API stocks have rallied a lot, They may cool off a bit. Divis, Laurus, Granules etc
  • RBI policy desicion is on Thursday, so likely confusion will prevail in the markets particularly Bank Nifty
  • After Pharma, Financial sector is poised to take off.
  • But we need strong postive news,
  • India Manufacturing PMI data to come today.
  • Nifty may trade between 11000 -11200
  • Bank nifty between 21500-22000

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