Pre Market Report, June 19, 2017 | Stocks and Commodities

June 19, 2017
Time: 8.45 am

Pre Market Report:

1. US markets ended mixed on Friday.
2. But Asian markets are higher.
3. Export data from Japan was good and that added to positive sentiment.
4. US futures are also higher.
5. SGX Nifty is trading above 9630.
6. That is higher than Thursday's high and Friday's high.
7. FIIs have sold for Rs 764 crores and DIIs have bought for Rs 891 crores.
8. FIIs continue to short in Index futures and Stock futures.
9. Nifty closed at the support level and then now opening higher than Friday's high.
10. This may trigger some short covering later in the day.
11. So any dip towards 9600 is an opportunity to go long.
12. In fact, on Friday I went long in nifty at 9594 and sold 9600 Call at Rs 65.
13. CDSL Pubic Issue opens today, the subscription figures will be watched keenly over the next three days.
14. Next leg of reform initiatives may drive markets higher.
15. Air India divestment and PSU Banks consolidation and merging will be some initiatives.
16. GST uncertainty seems to be holding the markets from breakout.
17. I expect Nifty to move significantly higher to 9900 or significantly lower to 9400 by the end of this expiry.
18. Most probabily, Nifty will head towards 9900.
19. Today Nifty future may take support at 9580.
20. Resistance will come at 9680.