Pre Market Report, August 9, 2018 | Stocks and Commodities

August 9, 2018
Time: 8.15 am

Pre Market Report:

1. US markets closed mixed with Nasdaq up and Dow and S&P up.
2. Asian markets are mixed.
3. China announced date for 16 billion US tariff.
4. But despite that China and Hong Kong markets are up.
5. SGX Nifty is almost flat.
6. Yesterday FIIs have bought in Cash, Index future as well as stock future.
7. DIIs also bought in Cash market.
8. FIIs started buying not only in India but across Asia.
9. Crude fell to around US$72 due to trade war but that is good for India.
10. OMCs like BPCL and HPCL declared better than expected results.
11. So today OMCs and Auto stocks will be in focus.
12. Retail lending banks started recovering after falling for many days.
13. HDFC Bank and Kotak Bank are doing well.
14. But it was ICICI Bank that made Bank Nifty to cross 28000.
15. There will be lot of activity in SBI as it declares results tomorrow.
16. Bank Nifty max pain is at 28000.
17. We can expect Bank Nifty to expire between 27900 and 28100.
18. Nifty future is likely to take support at 11420.
19. Now the resistance will be at 11520.
20. My strategy 11700 put calendar is doing very well.