Pre Market Report, August 23, 2018 | Stocks and Commodities

August 23, 2018
Time: 8.45 am

Pre Market Report:

1. US markets were down slightly due to Trump's Lawyer.
2. Asian markets are mixed.
3. Our markets consolidated on Tuesday as expected.
4. After that SGX Nifty crossed 11650.
5. But now it is trading around 11620.
6. Highest open interest among Calls is still at 11600 but volume is less.
7. Highest open interest among Puts is at 11400. Nifty 11500PE also has almost same open interest.
8. We can expect Nifty to trade between 11500 and 11700 for the rest of the series.
9. Crude is higher and that is not a good news for us.
10. Markets may continue with consolidation with some positive bias.
11. Bank Nifty expiry will bring some volatility to banking stocks.
12. Bank Nifty 28000PE and 28500CE have the highest open interest.
13. So Bank Nifty is likely to trade between these two figures.
14. HDFC Bank and Kotak Bank, two key private sector banks, not showing any upward momentum.
15. Bank Nifty will break all time high only if these two stocks show some positive momentum.
16. Reliance, ITC, Pharma stocks may continue to support the market.
17. Maruti is a weak stock in Auto pack.
18. I sold Maruti 9500, 9600, 9700CE, earlier I have sold 10000CE.
19. If there is any gap up in Nifty, then it may not sustain at higher levels.
20. Nifty future should take support at 11580.
21. Resistance will come at 11680.