Pre Market Report, November 13, 2017 | Stocks and Commodities

November 13, 2017
Time: 8.55 am

Pre Market Report:

1. Asian markets are down except China and Hong Kong.
2. So SGX Nifty is down by 10 to 20 points.
3. Axis Bank will be in focus as the PE deal is much bigger than expected.
4. L&T came with good results but cut in guidance may affect the share price.
5. Coal India came with bad set of results.
6. Last whole week, Nifty formed lower lows and that is a bearish sign.
7. FIIs have created huge short positions in F&O.
8. SBI results made Bank Nifty to out perform the Nifty.
9. On Friday Bank Nifty out performed Nifty by huge margin.
10. In the last half an hour, Nifty shot up nearly 70 points after touching the weekly low.
11. IIPdata that came on Friday evening was slightly lower.
12. Ahead of CPI inflation data today evening, Banking stocks will be in focus.
13. Last week low is an important level. As long as Nifty is not breaking that low, there are chances of bounce back.
14. Globally markets are correcting for the first time in the last many months.
15. Crude prices is an headache for India.
16. Saudi Arabia-Lebanon problem may blow out near future.
17. Stock specific action will continue as we are nearing earnings season.
18. Nifty future should take support at 10280.
19. Resistance will be at 10400.
20. Today's session will be an interesting one.