Pre Market Report, May 11, 2017 | Stocks and Commodities

May 11, 2017
Time: 8.30 am

Pre Market Report:

1. US markets ended mixed.
2. Asian markets are mostly higher.
3. Oil is recovering from the lows due to low US inventories.
4. Yesterday markets broke out as expected.
5. Nifty was up by 90 points.
6. Today SHX Nifty indicating about 30 points gap up.
7. Capital Goods and FMCG stocks are rising due to good corporate results of some companies in those sectors.
8. HDFC Bank resumed its uptrend.
9. PSU Banks are the laggards.
10. FIIs turned net buyers in Cash market helped Nifty to breakout.
11. Yesterday also FIIs have bought for about 900 crores in Cash market.
12. However they have sold in futures market and DIIs also turned net sellers in Cash market.
13. Now market is likely to consolidate between 9400 and 9500 for some time.
14. Bank Nifty may head towards 23000.
15. Auto stocks may not do well today, particularly Tata Motors.
16. Asian Paints and HCL Tech are the two important companies to declare results today.
17. Nifty future is likely to trade between 9400 and 9500 today.
18. Highest open interest among Calls is shifted from 9400 to 9500.
19. Bank Nifty expiry today will make Banking stocks litlle bit volatile.
20. Yesterday also Nifty out performed Bank Nifty.