Pre Market Report, August 17, 2017 | Stocks and Commodities

August 17, 2017
Time: 8.15 am

Pre Market Report:

1. US markets closed higher but below the morning session high.
2. But Asian markets are mixed.
3. SGX Nifty is trading slightly lower around 9900.
4. But yesterday's market was a fantastic one.
5. Nifty fell more than 50 points and then shot up by more than 120 points.
6. Bank Nifty was even more dramatic, fell more than 200 points and then shot up more than 500 points.
7. At the end of the day, FIIs were net sellers in both Cash and Index Futures and Stock Futures.
8. But now bulls argue that this shorts in the system is good, so that markets will take support at the lower levels.
9. In case if markets fall by 50 to 100 points, these shorts will start covering, cushioning the downfall.
10. Though there were problems from China day before yesterday, yesterday they seems to have toned down.
11. Talks were held to diffuse the tension.
12. That is a good sign, at least for the time being.
13. Yesterday there was huge Put writing at 9900, 9800, 9700 and 9600.
14. But last 6 days of trading was a nightmare for traders, everyday Nifty moved by 100 points either on the upside or on the downside.
15. For the fist time, it may stabilise or at least will try to stabilise.
16. But Bank Nifty weekly expiry may make markets volatile.
17. Let us see what happens today.
18. Nifty future may trade between 9860 and 9940.
19. Bank Nifty future may trade between 24400 and 24800.