Pre Market Report, September 13, 2017 | Stocks and Commodities

September 13, 2017
Time: 8.15 am

Pre Market Report:

1. Thanks to everyone who wished my son for his speedy recovery.
2. He has fever for 6th day but no malaria, dyphoid or dengue, just viral but still the fever is not coming down.
3. Hope he recovers fast.
4. Day before yesterday, world markets rallied mostly over one percent but we did nt rise that much.
5. So that has got adjusted yesterday by out performing other markets.
6. Despite all commotions, yesterda's close was second highest close for Nifty.
7. Last week I mentioned that the world markets will resume rally this week.
8. Sometime we get involved too much on one issue which impacts only in the short term.
9. I clearly mentioned that the only issue now is North Korea issue and all other things like GST, Monsoon, etc all positive for us.
10. On 3rd September, North Korea blasted Hydrogen bomb, next day I wrote, 'the worst is over, what more bad thing they can do?'
11. That has exactly happened, after that there was no bad news from North Korea, what followed after that was only war of words.
12. Yesterday FIIs have sold for about Rs 1300 crores in Cash market, yet markets were up and DIIs bought even more.
13. Slowly the relevance of FIIs is going down in our markets.
14. I remeber earlier whenever FIIs sell for US$1 billion, Sensex will go down by 1000 points.
15. Now in the last two months, FIIs have sold close to US$3 billion but Sensex did not even fall 300 points forget about 3000 points.
16. SGX Nifty was trading around 10120 but after Hong Kong markets open, which opened more than 100 points lower, SGX Nifty fell and now trading slightly below 10100.
17. Volatility is so low, the premiums are very low.
18. I sold Bank Nifty 24300PE and 25100CE in huge quantities, both sold around Rs 8.
19. I expect Bank Nifty to settle between 24300 and 25100.
20. ICICI Bank will be in focus as ICICI Lombard issue opens today.
21. We must remember ICICI Prudential did not do well on listing.
22. ICICI Bank is the one which takes advantage of all bull markets and mobilise in billions.
23. Between 2003 and 2007 also they did the same, came with follow on offers.
24. Now since the price is not attractive for main business, they come through Insurance subsidiaries.
25. Today Nifty future may consolidate after 2 days of solid gains.
26. Nifty future may trade between 10060 and 10120.