Pre Market Report, September 19, 2017 | Stocks and Commodities

September 19, 2017
Time: 8.40 am

Pre Market Report:

1. US markets once again closed at record high.
2. Asian markets are mostly trading with positive bias.
3. But Hong Kong and China are negative.
4. Last few months, SGX Nifty is following Hong Kong Market.
5. So SGX Nifty is also down by about 25 points.
6. FII selling in Cash market was also another reason for SGX Nifty.
7. But DII buying of over Rs 700 crores is surprising ehen markets are at all time high.
8. Markets may consolidate ahead of Fed meeting.
9. But markets all over the world were long ahed of Fed meetings in the past.
10. Fed is likely to keep the rates and may indicate December hike.
11. There may be some profit booking ahead of SBI Life IPO, which is a large isse.
12. ICICI Lombard has got decent subscription and that is positive for ICICI Bank.
13. Axis Bank and ICICI Bank were under performers in the last few weeks.
14. But Axis recovered some lost ground but ICICI Bank is still trading at the lower band.
15. For next few days, markets may not make big moves and Option sellers will stary eating the premiums.
16. Nifty crossed all time high yesterday but not the Bank Nifty.
17. L&T has been doing well. That is a good signal for economy.
18. Whenever Capital Goods stocks are doing well, 6 to 12 months down the lane, entire markets are likely to do well.
19. Capital Goods stocks will reflect the change in the economy.
20. We can sell Nifty December 9000 Put option which gives 3% return per month, if we pay only Span Margin.
21. Those who can take higher can consider 9200 or 9400 Put.
22. I feel that Nifty will not break 9400 by December.
23. Nifty 9700 and 9400 are two very important supports.
24. For today Nifty future may trade between 10120 and 10200.