Pre Market Report, June 22, 2017 | Stocks and Commodities

June 22, 2017
Time: 8.45 am

Pre Market Report:

1. US markets ended mixed.
2. But Asian markets are higher.
3. China leads Asian markets as China shares included in MSCI Emerging Index.
4. SGX Nifty is trading about 10 points higher.
5. Today is the 20th trading session in June series.
6. Nifty future is stuck in the range of 9590 and 9690.
7. This kind of narrow range has not been seen in the last many years.
8. But Bank Nifty future shot up nearly 700 points in this series.
9. Now ITC, Infosys, Reliance, HDFC Bank, HDFC all looking bullish.
10. But broader markets are not doing well.
11. Today also Nifty future will struggle between 9600 and 9700.
12. The longer the consolidation, the stronger will be the breakout or breakdown.
13. FIIs keep shorting in Index Futures and Stock Futures.
14. FIIs continue to sell in Cash market also.
15. Reliance shot up in the last 30 minutes yesterday.
16. Bank Nifty will be volatile due to Weekly expiry.
17. Yesterday I sold Bank Nifty 24000 Call expiring today at an average price of Rs 6, in huge quantities.
18. Despite the weakness in markets yesterday, Nifty 9600 Put added more than 5 lakh shares in Open Interest.
19. So 9580-9600 will be the floor for this series.
20. Bank Nifty is likely to out perform.
21. Today Nifty future may trade between 9600 and 9700.
22. One can sell Nifty 9500 Put and 9800 Call but must keep stop loss if there is a breakout or breakdown.