Pre Market Report, September 21, 2017 | Stocks and Commodities

September 21, 2017
Time: 8.35 am

Pre Market Report:

1. US markets closed mixed with Dow and S&P 500 up and Nasdaq down.
2. Nasdaq down mainly because of Apple which fell due to some problem with their products.
3. But Asian markets are not that positive, some plus and some minus.
4. SGX Nifty hit a low of 10124 and now trading around 10150.
5. FIIs have been bearish in the last few days.
6. SGX Nifty traded 90 to 100 points in panic on two days in the last one week.
7. But when our markets opened, there was no panic and in fact our markets were higher.
8. So what is going to happen today? We will know only after 9.15 am.
9. FIIs selling for more than 1000 crores on two consecutuve days is a bad omen.
10. In addition to Cash market selling, there is huge shorting in F&O by FIIs.
11. In case if markets move higher, short covering will take the market to 10300 levels.
12. Bank Nifty is likely to be volatile due to Weekly expiry.
13. SBI Life poor subscription may affect the SBI shares and in turn all PSU Banks.
14. ICICI is looking weak despite the success of ICICI Lombard issue.
15. So the focus will be on HDFC Bank and Kotak Bank to decide the direction of Bank Nifty.
16. Sine the Fed event is over, if Nifty goes up or falls mildly, then India VIX will fall.
17. Option premiums may come down along with the fall in VIX.
18. There was a sudden spike in Bank Nifty PE premiums yesterday in the last 15 minutes.
19. We need to see how that subsides today.
20. I sold 24600PE and 25300CE in huge quantities yesterday both for about Rs 6 to Rs 8.
21. Sold some quantities in Bank Nifty 25200 also at the closing at Rs 12 as Bank Nifty fell after 3.15 pm.
22. Today Nifty future once again may trade between 10120 and 10200.