Pre Market Report, October 25, 2017 | Stocks and Commodities

October 25, 2017
Time: 8.15 am

Pre Market Report:

1. GDP is down.
2. Demonetisation was bad.
3. GST is not good.
4. Banks NPA is very bad.
5. Credit growth is not picking up.
6. Earnings is not good.
7. Valuation is very high.
8. FIIs keep selling.
9. Investment cycle is not reviving.
10. Industrial production data (IIP) not good.

There are many more reasons for being skeptic.

But this is the classic case of stock market climbing the wall of worry.

All the bears will be crushed today.

ICICI Bank is up by 8% in US.

SBI is up by 15% in London.

SGX Nifty is up by 90 points.

This kind of gap up very close to expiry is very bad for bears.

All short sellers in Bank Nifty will be trapped and there will be huge loss.

Since the panic was created on last Thursday, there is more shorts in Bank Nifty.

Day before yesterday I noticed, the largest volume in both Nifty and Bank Nifty in this series.

That is why yesterday I mentioned that I will not be surprised if Nifty expires at all time high.

I have only one reason to be bullish. That reason is 'most of the people are bearish'.

Even today morning one guy says this is a bull trap, Nifty will fall 10% in the next few days.

I remember the joke:

Forgot about Nifty support, resistance, etc.

If you are a bull enjoy, if you are a bear look for poison bottle.