Pre Market Report, October 27, 2017 | Stocks and Commodities

October 27, 2017
Time: 8.35 am

Pre Market Report:

1. US markets closed higher.
2. Asian markets are mostly higher.
3. SGX Nifty hit a high of 10409 yesterday night.
4. Now it is trading around 10390, still about 30 points higher than the close here.
5. Yesterday morning, I mentioned that "we did not follow global cues for the last few weeks, why we should follow today?"
6. That became true as markets shot up while SGX Nifty howed weakness in the morning.
7. Bank Nifty consolidated yesterday after a huge run the day before.
8. October expiry was a fantastic expiry, started with most bearishness and ended with most bullishness.
9. Nifty travelled from 9700 to 10350, about 7% increase in one month.
10. Yesterday both FIIs and DIIs were net sellers in Cash market.
11. But expiry day figures can be ignored due to arbitrage play.
12. Yes Bank and ICICI Bank will be in focus due to corporate results.
13. Maruti and ITC will also be in focus due to crporate results.
14. Yes bank may react negatively today.
15. November is a long series, 5 week series without any holiday.
16. Also lot of corporate results will come out in this period.
17. So markets can be volatile, but will continue to rise as long as global cues are good.
18.