Pre Market Report, June 23, 2017 | Stocks and Commodities

June 23, 2017
Time: 8.15 am

Pre Market Report:

1. US markets ended mixed after a sell off in the last part of the trading session.
2. Asian markets are mixed with China and Hong Kong down and other markets are up.
3. SGX Nifty is swinging between plus and minus, now trading almost flat at 9635.
4. Yesterday for the first time, both FIIs and DIIs were net buyers.
5. But FIIs have sold in stock futures.
6. For 20 trading sessions, Nifty future closed between 9590 and 9690.
7. We have only 4 more trading sessions.
8. Since Monday is a holiday, we can expect some sharp move towards the end of today.
9. Yesterday NASCOM came with muted guidance, then IT stocks fell and that triggered sell of in other stocks also.
10. Sensex hit all time high yesterday.
11. PSU Banks did well yesterday, particularly SBI.
12. There was huge unwinding in Nifty 9600 Put due to sudden fall in Nifty.
13. Now Nifty 9500 Put has the highest open interest among Puts and 9700 Call has the highest open interest among Calls.
14. Markets are likely to recover in the afternoon as there may be short covering due to both FIIs and DIIs turning net buyers in Cash market.
15. Stock specific action will continue in HDFC Bank, Reliance, Auro Pharma, etc.
16. Nifty future, needless to say, is likely to trade between 9600 and 9700.
17. Breaking of either level, the move will be sharper.