Pre Market Report, September 16, 2016 | Stocks and Commodities

September 16, 2016
Time: 8.20 am

Pre Market Report:

1. US markets closed significantly higher.
2. In the last few days, DOW either moves higher by more than 100 points or lower by more than 100 points.
3. This comes after historically low VIX and very narrow movements for more than a month.
4. Hong Kong, China, South Korea markets are closed.
5. Other Asian markets are higher following US.
6. SGX Nifty is trading around 8820.
7. On Monday Nifty future opened gap down at 8805.25, open price and high price was the same on that day.
8. After that Nifty future has not crossed that number.
9. Today it is opening above that figure is clearly a bullish sign.
10. FIIs have turned net buyers in Cash market though DIIs continue to sell in huge quantities.
11. FIIs in F&O are still bearish.
12. As I stated earlier, Nifty may trade between 8700 and 9000 and may breakout towards the end of the series as happened in the last few series.
13. This sudden fall on Monday took out all the weak bulls out of the market.
14. If anyone is long in Anil AMbani stocks like Rel Capital and Rel Infra, even holding one lot in F&O would have resulted in MTM loss of more than Rs 50,000, I don't think weaker bulls can take that kind of loss.
15. I faced a loss of nearly Rs 50 Lakhs for my clients on Monday but recovered about Rs 35 lakhs in the next two days.
16. Hope to recover the remaing losses by today.
17. I have also gone light on long positions.
18. Media stocks were in limelight yesterday.
19. Auto stocks are still bullish, Maruti is close to 52 week high.
20. ITC, Reliance, Infosys saw some good amount of short covering yesterday.
21. Highest open interest among Puts is at 8500 and Calls is at 9000, same as last month.
22. But this time volatility is higher.
23. Nifty future may trade between 8760 and 8840.