Daily Report · July 31, 2020

Pre Market Report 31 July

  • As anticipated Nifty and bank Nifty fell heavy on monthly expiry
  • Some pe options went up 10x- 50x in a matter of minutes due to a large gamma move
  • German GDP data was the trigger, it came very bad and DAX index fell 4 %, we followed suit immediately
  • US futures also fell in line with world markets
  • US GDP data also came worse then expected
  • But After opening US markets started recovering and closed almost flat, Nasdaq closed in green
  • Apple , Alphabet(Google), Amazon and Facebook had results, These big giants all posted good results, even better than what street expected.
  • Apple, Facebook, Amazon all are up 5% after market
  • As a result all global markets are positive
  • SGX nifty is up 40 points
  • Reliance also posted results, though they posted better profits but overall results were not good
  • Their Oil segment has got a huge hit due to less demand
  • Sun Pharma, SBI, IOC, Tata Motors will post results today
  • FII were net buyers yesterday despite huge selloff, looks like its buy on dip market now
  • Nifty took support of 11100,so it should trade with 11100 as support
  • Bank Nifty took support at 21600
  • Most likely we will see an inside bar today