Pre Market Report, September 1, 2017 | Stocks and Commodities

September 1, 2017
Time: 8.55 am

Pre Market Report:

1. A long series, 5 week one, has come to an end yesterday.
2. FIIs have sold for more than 15000 crores in August.
3. FIIs have sold in almost all the trading sessions.
4. FII selling is highest after November 2016, Trump cum Demonetisation led sell off.
5. There were many mini black swan events like Indo-China border problem, US-North Korea problem, North Korea launching missile over Japan, 350 companies blaklisted by SEBI, etc.
6. Despite that Nifty did not even fall more than 3% on close to close basis in the last one month.
7. Now these worries are getting over, markets are rallying all over the world.
8. But we may start without any enthusiasim as our GDP came at 5.7% while everyone was expecting better than 6.6%.
9. But again, we need not worry much about GDP data, lead indicators are more important than lag indicators.
10. GST seems to be working very well and the future growth looks bright.
11. Since we have recovered about 50% of last months intranmonth fall, we will face some resistance between 9900 and 9950.
12. So for this month, I will turn bullish if Nifty crosses 9980.
13. I will turn bearish if Nifty breaks 9880.
14. Again there are all only for short term.
15. Yesterday Reliance and HDFC Bank saved the day from falling.
16. SGX Nifty is trading flat and that is good considering the GDP data.
17. Auto stocks will be in focus as monthly sales data will be out. Maruti has already shot up yesterday.
18. Nifty future may trade between 9900 and 10000.