Pre Market Report, July 18, 2018 | Stocks and Commodities

July 18, 2018
Time: 8.45 am

Pre Market Report:

1. US markets closed higher after positive comment from Powell.
2. Asian markets are all higher.
3. SGX Nifty is up by 30 to 40 points.
4. Last time Nifty fell from this level only.
5. So if markets sustain at this level there may be more short covering.
6. Again it is only 5 to 6 stocks are taking markets higher.
7. TCS crossed Rs 2000.
8. There was a good amount of unwinding in 11000CE and 11100CE.
9. So the resistance now is at 11200.
10. Earlier I did a Put calander expecting Nifty to expire around 11200.
11. That position is doing very well. Low risk high reward strategy.
12. AS I said earlier I am expecting Nifty to trade between 10920 and 11120.
13. Today we may see some resistance at 11080.
14. Crude is trading lower and that is good for  Auto and OMC stocks.
15. Kotak will declare results tomorrow, so it may be in focus today.
16. Ashok Leyland came with good results. I sold 100PE at Rs 0.70 when it fell day before yesterday.
17. All the beaten down stocks except PC Jeweller recovered yesterday.
18. Govt. announced recap of Rs 10,000 crore, so PSU Bans may be in focus.
19. This figure is a very low figure, that given to some smaller banks, so SBI may not do well today.
20. Expect a breakout if Nifty crosses 11080.
21. Otherwise Nifty future may trade between 10980 and 11080.