Pre MArket Report, July 31, 2018 | Stocks and Commodities

July 31, 2018
Time: 8.55 am

Pre MArket Report:

1. US markets fell.
2. Nasdaq was down for 3 consecutive days as FAANG stocks fell.
3. Asian markets are mixed.
4. Japan waiting for Central Bank policy.
5. US is waiting for Fed policy.
6. We too waiting for RBI policy.
7. There was a wahtup message going around, which said Nifty shot up by more than 9% in the last 12 years from June low to July high.
8. It was unbelievable in June but it has happened almost.
9. Many frontline stocks have shot up.
10. From June low to July high, Reliance is up by more than 20%, ITC, ICICI Bank also shot up more than 20%.
11. PFC, REC shot up more than 20% in tow to three days.
12. Markets may consolidate ahead of RBI policy tomorrow.
13. Option premiums are very high ahead of RBI policy.
14. Premiums may fall after the policy.
15. Tomorrow in addition to RBI plolicy, auto and cement sales data will be out.
16. So Banking, Auto and Cement stocks will be in focus.
17. FIIs are taking bullish view.
18. In early July Nifty 11000 had the highest open interest among Calls.
19. But July series ended near 11200.
20. Now 11500CE has the highest open interest.
21. Can we expect Nifty to expire around 11700 this time?
22. Well we are just beginning, lot more results are due.
23. Yesterday Bank of Baroda shot up 10%, what will happen to Bank Nifty if SBI shoots up like this after the results?
24. So anything can happen in our markets.
25. Uncertainty is the only Certainty.
26. SGX Nifty is almost flat.
27. But the action will be here.
28. Banks will be volatile ahead of RBI policy.
29. Axis Bank will react to results.
30. As long as Nifty future does not fall below 11280, I will stay bullish.
31. Resistance will come around 11400.