Pre Market Report, June 15, 2018 | Stocks and Commodities

June 15, 2018
Time: 8.35 am

Pre Market Report:

1. US markets ended mixed.
2. Asian markets are also mixed.
3. SGX Nifty is down by about 20 points.
4. FIIs have sold aggressively in both Cash and F&O market.
5. In Cash market, they have sold for more than Rs 1000 crore.
6. In F&O, they have gone short in both Index Futures and Stock Futures.
7. They have also bought Options heavily, for more than Rs 4000 crores.
8. So markets have gone to consolidation mode.
9. Now all the data are out and for the next two weeks only Global cues will dominate the markets.
10. Much awaited upside breakout has not happened.
11. India VIX also came down yesterday.
12. There was unwinding in Nifty 10800PE, 10700PE and 10600PE.
13. The trade set up is slightly bearish.
14. However, I still feel that Nifty will take support at 10770-80 range.
15. I will turn bearish only if Nifty future falls below 10770.
16. TCS will be in focus ahead of its board meet to buyback the shares.
17. Can sell Nifty 10400PE if Nifty falls to the range 10720-10750 range.
18. Or do ratio spread, buy 10500PE 1 lot and sell 10400PE 4 lots.
19. Nifty is likely to consolidate in the range 10600 - 11000.
20. As long as yesterday' slow is not broken, we can expect some recovery later in the day.
21. Nifty future is likely to trade between 10770 and 10880.