Pre Market Report, May 28, 2018 | Stocks and Commodities

May 28, 2018
Time: 8.55 am

Pre Market Report:

1. I could not write "Pre Market Report" for the last two trading days as I was too busy in Traders Carnival.
2. But markets worked in my favour on both days.
3. On Friday US markets closed mixed.
4. Asian markets are mostly drifting higher.
5. US team is in North Korea on US-North Korea summit.
6. That is a positive news and US futures are higher.
7. Crude prices are down by more than 5% in the last few days.
8. We can expect Auto and Oil Marketing companies to do well in the short term.
9. Even dollar index is down and our currency may become stronger a bit.
10. SGX Nifty is trading about 20 points higher.
11. Nifty 10500PE has the highest open interest among Puts.
12. Though markets fell below that for a day or two, it has recovered.
13. I do not think Nifty will expire below 10500 by this Thursday.
14. Markets may go for consolidation until there is a clear picture about monsoon.
15. Next driver of the markets will be the monsoon.
16. So we may consolidate between 10500 and 10800 depending on the global cues.
17. Meanwhile, corporate results that came during the week end have been good.
18. So we may keep the positive bias.
19. I sold Bank Nifty 25800PE, 25500PE, 25200PE and 25000PE.
20. Already sitting with good profits.
21. Today we can expect Nifty future to trade between 10580 and 10680.