Pre Market Report, June 20, 2018 | Stocks and Commodities

June 20, 2018
Time: 8.30 am

Pre Market Report:

1. US markets closed lower but recovered about one third of the losses.
2. Going is not good for Boeing, which contributed to 100 point fall in DOW.
3. Asian markets are stabilising after a drastic fall yesterday.
4. SGX Nifty hit a low of 10677 yesterday night.
5. But now it is trading almost flat.
6. There was a huge unwinding in 10800PE and huge addition in 10800CE.
7. So in short term, 10800-10850 range will be a huge resistance.
8. India VIX shot up by more than 4%.
9. Still we have out performed many other world markets yesterday.
10. BJP pulling out of J&K coalition could have contributed to the fall in addition to global cues.
11. Until China announces specific measures, markets are likely to stabilise.
12. But the fear may not subside easily as China can announce the retaliatory tariff anytime.
13. Crude prices are hovering around US$75.
14. Our markets are likely to stabilise and trade sideways until further news flow.
15. Day before yesterday ICICI Bank saved Bank Nifty and yesterday HDFC Bank saved Bank Nifty from collapsing.
16. Premiums are so high for Bank Nifty weekly options.
17. Hoping for India VIX to go down and hence the premium.
18. After many days of fall, HDFC Bank stabilised.
19. Bank Nifty out performed Nifty yesterday.
20. If there are no flash news about China retaliatory tariff, Nifty future is likely to trade between 10680 and 10780.