Pre Market Report, September 18, 2017 | Stocks and Commodities

September 18, 2017
Time: 8.30 am

Pre Market Report:

1. US markets closed at all time high on Friday.
2. Asian markets are mostly trading higher.
3. SGX Nifty hit a high of 10152 which is higher than all time high figure of 10150 for Nifty future.
4. Last Friday, I posted in my Facebook that our problem is not North Korea, our problem is FII selling.
5. Last Friday FIIs turned net buyers, so SGX Nifty is showing such a bullishness.
6. Retail people are heavily short, so short covering will help Nifty to rally.
7. Even today morning somebody wrote in investing.com forum, "Nifty will go to 9920 by Wednesday, short Nifty future with stop loss 10140".
8. There are people who still talk of 9000 and 9100. They confidently say, "you will see the power of chart"
9. Sometimes, we look at the issues with very very short term perspective.
10. In the larger picture, we have evrything positive (Like GST, Monsoon, etc) we have only two problems, FII selling and North Korea issue.
11. Now both seems to subside.
12. Nifty may rally 200 to 300 points in the next 5 to 6 weeks if Nifty crosses 10140.
13. ICICI Lombard IPO is getting good response, larget IPO in the 7 years, SBI Life IPO opens this week.
14. If there are no more bad news from North Korea, markets are likely to maintain bullish momentum this week.
15. Nifty future may trade between 10100 and 10180.