Pre Market Report, May 7, 2018 | Stocks and Commodities

May 7, 2018
Time: 8.45 am

Pre Market Report:

1. US China trade talks did not go well.
2. Crude prices refuse to come down.
3. Karnataka election results may lead to hung assembly.
4. US may go against Iran after May 15 and China after May 22.
5. FIIs are accelerating their sales in Cash market.
6. There are so many negative cues and that is why our markets have lost steam and fell.
7. Is everything is negative? No.
8. RBI planning Rs 10000 crore bond buying is a positive for Banking stocks.
9. BJP's tally is increasing in the pre poll survey.
10. According to a poll, BJP is likely to be single largest party.
11. Earlier, it was predicted that Congress would be the single largest party.
12.  US markets started stabilising without any positive news, that too when the US team returned from China without any successful negotiation.
13. We can assume that selling exhaustion may have played a role in US markets.
14. SGX Nifty is up by about 20 to 30 points mainly due to Asian cues and RBI news.
15. Highest open interest among Puts is at 10500 and among Calls is at 11000.
16. But Karnataka election results may bring some volatility.
17. ICICI Bank will be in focus ahead of its results.
18. On Friday I sold both 260PE and 300CE.
19. Bank Nifty is looking more stronger than Nifty.
20. Nifty future may trade between 10620 and 10720.