Pre Market Report, August 14, 2018 | Stocks and Commodities

August 14, 2018
Time: 8.30 am

Pre Market Report:

1. US markets fell once again as Turkish problem continues.
2. But most Asian markets are in Green.Only Hong Kong and China are down.4
3. SGX Nifty is trading about 10 points higher, around 11400.
4. Yesterday our currency hit a low.
5. But our markets are resilient. We have out performed Emerging markets.
6. At high point of the day Nifty was just 15 points lower than the previous day's close.
7. That was despite huge under performance in Bank Nifty.
8. From today we have only 11 more trading sessions.
9. There is one public holiday today and one holiday next week.
10. So the option premiums may start falling.
11. US and European futures are in Green now, though the Green tick is only minor.
12. Considering the huge run up in our markets, this is just a consolidation.
13. I will stay bullish as long as Nifty trades above 11320.
14. Inflation data was at 9 month low.
15. Food inflation was very low.
16. So we can expect Bank Nifty to do better today.
17. Highest open interest among Puts is at 11000 and among Calls is at 11500.
18. As per some report, JSW Steel is likely to enter Nifty 50 while Lupin may be out.
19. Any correction in JSW Steel should be a buying opportunity.
20. Nifty future may trade between 11350 and 11450, a range I mentioned yesterday.