Pre Market Report, May 16, 2017 | Stocks and Commodities

May 16, 2017
Time 8.45 am

Pre Market Report:

1. US markets closed higher.
2. Asian markets are mixed.
3. SGX Nifty hit a high of 9494 yesterday night.
4. But now it is trading at 9470 as some Asian markets are down.
5. FIIs were net buyers and DIIs wer net sellers but FIIs have bought more than what DIIs have sold.
6. DII selling has come down below Rs 100 crores from thousands of crores in the previous sessions.
7. Today Tata Steel and PNB will be in focus ahead of their results.
8. This week will be the week of PSU Banks as SBI, BoB and PNB declare results.
9. I sold PNB 150 Put and 190 Call yesterday.
10. Also sold Tata Steel 430 Put and 490 Call.
11. Petrol and Diesel prices are cut, positive for Auto stocks.
12. Expecting this cut, Maruti hit all time high yesterday.
13. There was a huge addition of open interest at 9400 Put.
14. So Nifty nbase seems to have shifted from 9300 to 9400.
15. Nifty 9200 Put shed open interest by more than 12 lakh shares and Nifty 9400 Put added more than 8 lakh shares in the open interest.
16. There was some unwinding in Nifty 9500 Call and that indicates the bullishness.
17. Market expect Nifty to cross 9500 in this series.
18. Many analysts are predicting 9550 by the end of this series.
19. There may be some profit booking around 9500 as this is a round figure.
20. Nifty future is likely to face resistance around 9500.
21. Support may come at 9420.