Pre Market Report, June 7, 2017 | Stocks and Commodities

June 7, 2017
Time: 8.35 am:

Pre Market Report:

1. US markets closed lower.
2. Asian markets are mixed.
3. UK elections and US FBI Director's testmony and ECB meeting all on Thursday bringing some jitterness to the markets.
4. As ecpected yesterday also we were in consolidation mode.
5. RBI policy may be a trigger, if that fails, global cues will become a trigger tomorrow or day after tomorrow.
6. Yesterday FIIs were net buyers in Cash market. In F&O, they were sellers in both Index futures and Stock futures.
7. DIIs were net sellers in Cash market.
8. Yesterday Nifty future opened above 9700 but was sold into quickly.
9. We are trading "Two steps forward and one step backward"
10. Anybody who buy on the dip is rewarded.
11. SGX Nifty is trading about 10 points higher.
12. Tyre stocks were up yesterday.
13. IT stocks were in limelight after TCS accepted 100% of the retail shares in the buy back.
14. Nifty future will be bullish as long as 9620 is not broken.
15. Bank Nifty future was up by 15 points while Bank Nifty was down by 45 points.
16. Bank Nifty future added 60 points over the spot which shows the short covering in Bank Nifty.
17. Even the ITM option, 23500 Put in Bank Nifty added more than 3 lakhs shares in the open interest.
18. Bank Nifty 23000 Put also added more than 2 lakh in the open interest.
19. This shows the bullishness in Bank Nifty ahead of RBI policy.
20. SBI fell despite good news about QIP.
21. Nifty future may trade between 9640 and 9720 before RBI policy.
22. After the policy, it is difficult to predict, we need to take a call after seeing the policy.
23. I suggested selling Nifty 9700 Put at Rs 150, I sold at Rs 157 two days back, the break even comes at 9550 and that is a very good support.
24. After the policy, India VIX is likely to go down, then one can keep a stop loss at Rs 120.