Pre Market Report, June 5, 2018 | Stocks and Commodities

June 5, 2018
Time: 8.45 am

Pre Market Report:

1. Yesterday was a very bad day.
2. Every analyst went wrong.
3. We all thought FIIs will scramble to buy HDFC Bank shares.
4. But their response was very bad.
5. They have bought for less than Rs 3000 crore in HDFC Bank.
6. Our market was the worst performer among the world markets yesterday.
7. Leaving the HDFC Bank story, the market set up remains the same.
8. Midcaps and small caps are bleeding.
9. Somebody sent me a message about the stocks hit lower circuit yesterday, many of them were good companies.
10. Today I received a whatsup message about the stocks of Porinju which fell more than 50% in the last one year.
11. Nifty is holding due to the out performance of handful of large cap stocks.
12. SGX Nifty is down by about 25 points.
13. Many front line stock futures are trading at discount.
14. Both Nifty and Bank Nifty trading at discount.
15. Markets are ignoring all the good news like very good GDP data, good monsoon for third year in a row.
16. Pharma stocks, no recovery at all even from this low levels.
17. Caplin Point, a good Pharma stock, fell from Rs 600 to Rs 400 in the last 10 days.
18. Auro Pharma, another good Pharma stock, trading at multi year low, lost nearly 20% in the last one week.
19. FIIs have sold heavily in stock futures.
20. For strategies, check my Twitter handle @PRSundar64.
21. Nifty future is likely to trade between 10550 and 10680.