Pre Market Report, June 18, 2018 | Stocks and Commodities

June 18, 2018
Time: 8.30 am

Pre Market Report:

1. On Friday Trump announced US$50 billion of tariff hike on Chinese goods.
2. In fact the news broke out on Friday morning itself and that was the reason for drastic fall in our markets on Friday.
3. Friday afternoon, TCS share buyback news came and TCS shot up and that helped Nifty to recover all the losses.
4. TCS announced Rs 2100 per shares Vs expectation of Rs 2000 per share.
5. Though Nifty closed positive, Bank Nifty closed in negative.
6. Today the good news is that Crude prices have fallen by more than 4%.
7. That is a good news for India.
8. Oil marketing companies and Auto stocks are likely to do well today.
9. With IT and Pharma already having good momentum, markets may fall much from here.
10. The only problem is the Bank Nifty. HDFC Bank hitting the lows almost on a daily basis.
11. Since HDFC Bank has more than one third weightage in Bank nifty, HDFC falling from 2160 to 2020, would have wiped out more than 1000 points in Bank Nifty.
12. US markets fell after China Tariff hike but VIX did not rise.
13. Asian markets are mostly down.
14. Many Asian markets like China, Hong Kong, Taiwan, are closed.
15. US futures are down, but European futures are moderately down.
16. SGX Nifty is trading around 10780.
17. Except Bank index, all indices are likely to do well.
18. Markets are still in consolidation mode.
19. Nifty is likely to trade between 10600 and 10900 this week.
20. Today Nifty future may trade within yesterday's range.