Pre Market Report, June 14, 2017 | Stocks and Commodities

June 14, 2017
Time: 8.40 am

Pre Market Report:

1. US markets closed higher, IT stocks recovered after two days of losses.
2. But Asian markets are mixed.
3. SGX Nifty opened above 9640 but quickly sold into.
4. Now SGX Nifty is trading lower than yesterday's close here.
5. But as per CNBC TV18 report, the circular from RBI with regards to NPA of big corporates is good for Axis Bank, ICICI Bank, SBI and Bank of Baroda.
6. As per their report, these stocks are likely to rise in today's trade.
7. If that happens, then Bank Nifty will turn bullish as HDFC Bank, Kotak Bank are already in the bull grip.
8. SO as of now we are getting mixed signals.
9. For 13 trading sessions, Nifty future closed between 9600 and 9700.
10. It looks like today also the same story may repeat.
11. Markets may be jittery due to Fed policy announcement tonight.
12. Bank Nifty 23500 Put and Call both have highest open interest among Puts and Calls. 
13. So markets may not go anywhere for the next few days.
14. I have sold Bank Nifty 23000 Put and 24000 Call as I am expecting Bank Nifty to trade between these two numbers until the end of next week.
15. FIIs continue to sell in Cash market while DIIs continue to match by buying what FIIs are selling.
16. In F&O, FIIs continue to short.
17. So there may be a short covering rally at some point but we do not know when that will happen.
18. Nifty future may take support at 9580.
19. Resistance may come at 9680.
20. Bank Nifty will be in focus due to RBI circular.