Pre Market Report, June 25, 2018 | Stocks and Commodities

June 25, 2018
Time: 8.50 am

Pre Market Report:

1. Last week was a hectic week.
2. CNBC program, personal workshop for some ultra HNI clients, meeting friends and clients, workshop, etc.
3. I just returned to Chennai late night, too tired.
4. China cut the CRR for banks yesterday and I thought markets will open flat to positive.
5. But today morning, US announced planning to curb China investments dragged all Asian markets.
6. SGX Nifty is trading about 60 points lower.
7. On Friday, it was short covering rally towards the end.
8. Once again we are going back to 10800 plus or minus.
9. Reliance started falling on Friday.
10. Bank Nifty is likely to be volatile for some more time until FII window is closed.
11. Crude is hovering around US$74, which is not good.
12. Last four days of the expiry week, markets are likely to be volatile.
13. ICICI Bank may be under slight pressure due to news flow.
14. We need to see how HDFC Bank performs today, that will decide the Bank Nifty's fate.
15. Expect more of a consolidation rather fall in the markets.
16. This month, Nifty option sellers only made money.
17. Trading range is 10600 and 10850.
18. Once the range is broken, then only directional move will come.
19. I expect support at 10780.
20. If that is broken, Nifty future may slide to 10720 in the next few days.
21. Resistance will be at 10850.