Pre Market Report, July 17, 2018 | Stocks and Commodities

July 17, 2018
Time: 8.40 am

Pre Market Report:

1. This week did not start well.
2. India VIX shot up by 5%.
3. Many mid cap and small cap stocks fell more than 10% lead by PC Jewellers.
4. PC Jewellers 20PE traded more than Rs 1.
5. Pharma started falling again badly.
6. It is only Padavas (TCS, Infosys, HDFC Bank, Kotak Bank, Reliance) who are holding the market.
7. All remaining stocks became Kauravas.
8. Crude oil fell more than 4% in international markets.
9. That is good for India.
10. Oil marketing companies and Auto stocks may be in focus.
11. But Tata Motors and Ashok Leyland will be in trouble due to load hike news.
12. Markets are consolidating as expected.
13. As long as Nifty future not falling below 10920, there is nothing to worry.
14. FIIs continue to sell, worst selling spree in the History of Indian Stock Market.
15. SGX Nifty is trading around 10935, about 10, 15 points lower.
16. But in the morning, it traded below yesterday's low.
17. But some times, SGX Nifty is not a true indication.
18. Bank Nifty has already corrected about 500 points from recent peak.
19. Next trigger for Bank Nifty will be Kotak Bank results on Thursday.
20. Hope it consolidates until then.
21. Nifty future should take support at 10920.
22. Resistance will come at 11,000.