Pre Market Report 20-Dec-2024
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#PreMarketReport
date 2024-12-20 02:31:38
views 30502
author UCS2NdYUmv_PUyyKeDAo5zYA
source
Here’s a summary of the transcript:
The Pre-Market Report for 20-Dec-2024 is discussing the current market trends and insights. The US markets have been falling continuously for 10 days, with the Dow Jones falling by 15 points on its 11th consecutive day of decline. The market’s volatility is fueled by the Federal Reserve’s indication of less interest rate cuts and the upcoming inflation data release. Additionally, the quadruple witching day in the US, where stock options, index options, stock futures, and index futures all expire simultaneously, may lead to increased market volatility.
In contrast, the GI Nifty index is not factoring in the global cues, and some Indian companies’ results, such as Accenture’s, may lead to optimism in the Indian market. The speakers mention the historical correlation between Accenture’s results and Indian IT companies’ stocks, where a good result from Accenture can lead to an increase in their stocks.
The speaker also mentions the possibility of a short covering, where traders who have shorted the market may book their profits, leading to a market recovery. The Nifty index is expected to trade between 23800 and 24500, with 23800 being a key support level. The speaker suggests not trading in short-term options due to the high premiums and potential margin issues.
Overall, the report is highlighting the uncertainty in the market, but also mentioning areas of potential optimism, such as Accenture’s results and the possibility of short covering.
