Pre Market Report, June 19, 2018 | Stocks and Commodities

June 19, 2018
Time: 8.45 am

Pre Market Report:

1. US markets closed lower after Trump's threat of another US$200 billion tariff against China.
2. Most Asian markets are down.
3. Only exception is Australia.
4. Hong Kong markets opened 400 to 500 points down.
5. Later China announced that it will retaliate US tariff.
6. Markets all over Asia fell further.
7. Hong Kong is down by more than 600 points.
8. Recent low for Nifty is 10735.
9. Now it is likely to open lower than that.
10. This huge gap down will create some panic among the bulls.
11. We need to see how Bank Nifty performs today.
12. ICICI Bank ADR is up by about 5% and HDFC Bank ADR is up by 2%.
13. If both these banks performs, the impact on Indian markets will be only moderate.
14. Particularly, HDFC bank has been under performing for the last few days.
15. Open interest added in 10800CE, 10900CE, 11000CE shows Call writers are aggressive.
16. Broad range for the rest of the series will be 10600 to 11000.
17. Crude prices also shot up yesterday itself towards US$75.
18. FII selling continues, worst ever selling by FIIs in the History of Indian stock market.
19. I do not think FIIs were selling this much even during 2008 crisis.
20. Nifty future may find support 10680.