Pre Market Report, September 6, 2017 | Stocks and Commodities

September 6, 2017
Time: 8.15 am

Pre Market Report:

1. Yesterday around 12 noon, there was sudden selling and Nifty future hit a low of 9915.
2. But after Europe opening, our markets recovered and Nifty future hit a high of 9982.
3. But at the time of our market closing, Dow futures was down only 60 points.
4. But later Dow fell about 280 points.
5. In the second half, Dow recovered a bit and finally closed 234 points down.
6. In the morning SGX Nifty was trading around 9950 but after Hong Kong opened SGX Nifty fell and now trading around 9930.
7. Hong Kong has fallen by more than 250 points. Hong Kong has been a resilient market.
8. HDFC Bank ADR has fallen by about 4% and ICICI Bank has fallen by about 3%.
9. Since these two stocks have the highest weightage in Bank Nifty, today we have to see how Bank Nifty performs.
10. Yesterday Nifty 10000CE has shed open interest about 3 lakh shares and 9900PE added open interest of about 5 lakh shares.
11. But during volatile times like this, things may change in one day.
12. I sold Put options of 9500 and below only and Call options 10150 and above only.
13. Surprisingly highest open interest in Bank Nifty PE is at 25000.
14. Today will be the last day for Bonus stripping in Reliance.
15. The only hangover is the North Korea issue.
16. Once that is over, markets may rally all over the world.
17. But entire September month is a turbulent month is US, Debt Ceiling issue will also be coming up later in the month.
18. So be ready for Roller Coaster ride for next few days.
19. Today Nifty future should take support at day before yesterday's low of about 9880.
20. Resistance will be at yesterday's high of 9880.