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

November 6, 2017
Time: 8.40 am

Pre Market Report:

1. Hong Kong market has fallen more than 400 points.
2. That is having some impact in SGX Nifty.
3. SGX Nifty is trading about 50 points lower.
4. But Dow future is stillhigher and many other markets are still positive.
5. On Friday FII sell figure of about Rs 10000 crores was a shocking news for many.
6. But if we remove the Bharti Airtel block deal, FIIs have actually bought for about Rs 300 crores.
7. So markets may open gap down and it may recover later.
8. As I said earlier, if Nifty falls more than 50 points, then it is an opportunity to sell Put options.
9. But one should sell Put options of 10000 and below.
10. Highest open interest among Puts is at 10000 which more than twice the highest open interest among Calls at 10500.
11. Hong Kong and South Korea are down more than a percent, may be due to local factors.
12. Not clear why Hong Kong and South Korea have fallen so much.
13. SGX Nifty's fall is mainly because of this.
14. Some PSU Banking results were not good over the weekend.
15. So bank nifty may come under pressure.
16. At all time high, profit booking like this is normal.
17. Nifty future may take support at 10420.
18. Resistance may come at 10500.
19. Some people thisnk "Paradise Paper Leak" news as the reson for SGX Nifty fall.
20. I do not know to what extent it is true.