Pre Market Report, June 15, 2017 | Stocks and Commodities

June 15, 2017
Time: 8.40 am

Pre Market Report:

1. US markets ended mixed.
2. Fed event was on the expected lines.
3. So Fed event has become a non event.
4. SGX Nifty was up by 20 points yesterday night.
5. Just before US markets close, the news broke out that Trump is being investigated for obstruction of Justice.
6. US markets fell in a knee jerk reaction and then recovered some lost ground.
7. Asian markets are mostly negative and SGX Nifty tested yesterday's low.
8. After China has recovered to trade marginally in Green, SGX Nifty also recovered and now trading around 9620.
9. So far, 14 trading sessions are over in this series, Nifty future has been closing between 9600 and 9700 in all these days.
10. Today also it looks like the same.
11. Today Nifty future may fall more than Nifty as premiums may come down.
12. ITC was responsible for yesterday's fall and now it is trading at support level, ITC has already fallen 4% this month.
13. FII selling in F&O reduced but short covering has not happened.
14. We may trade weak in the morning but may recover towards the end of the day.
15. Bank Nifty weekly option expiry will bring Volatility to banking stocks.
16. Overall Volatility may go down as the Fed event is over.
17. Option premiums may start to collapse.
18. As long as Nifty does not fall below 9570, markets may recover at any time as in a bull market, market consolidation do not last longer than 10 to 15 trading sessions.
19. We can expect Nifty future to trade between 9580 and 9680.
20. We can expect some sharp move towards the end of the day.