Pre Market Report, August 6, 2018 | Stocks and Commodities

August 6, 2018
Time: 850 am

Pre Market Report:

1. Asian markets are higher.
2. China has brought in some ban on Yaun trading.
3. That is boosting both China and Hong Kong markets.
4. Hong Kong markets are higher after falling every day in the last week 5 trading sessions.
5. SGX Nifty is up by about 40 points.
6. This is a decent gap up considering the fact that we closed at all time high on Friday.
7. Both Nifty and Bank Nifty are at all time high despite HDFC Bank and Kotak Bank not doing well.
8. Kotak Bank in not doing well due to results and dilution of stake.
9. HDFC Bank under performance is surprising.
10. Today HDFC AMC is getting listed.
11. If the listing is good (which is expected as per Grey market reports) HDFC Bank will be the major beneficiary.
12. That may boost the sentiment in HDFC Bank.
13. We just need 20 point move in HDFC Bank to reach 28000 for Bank Nifty future.
14. We are just in the early part of second week, we are near the highest open interest amng Calls.
15. Last month Nifty 11000 Call had the highest open interest in the first half of the series but broke out and Nifty closed near 11200.
16. This time also we can expect highest open interest of 11500 to be crossed and we can expect this month expiry near 11700.
17. That is why I did 11700 Put calendar with a sell in 11700CE.
18. Crude prices are stabilising.
19. Rupee also stabilising.
20. We can expect Nifty future to trade between 11380 and 11480.
21. Since 11500 has the highest open interest, markets are likely to consolidate for few more days around 11500.