Pre Market Report, September 17, 2018 | Stocks and Commodities

September 17, 2018
Time: 8.15 am

Pre Market Report:

1. US may be announcing trade tariff against China as per news report.
2. That dented the positive sentiment in Asia.
3. China might refuse to take part in the trade negotiation.
4. So once again US China trade war is resrfacing.
5. It was down 300 points in two days.
6. Then it was up by 270 points in two days.
7. Today it may start about 40 to 50 points down, we do not know where it will close.
8. Until the US China trade gets clarity, markets will be "short and short covering"
9. Earlier US announced it may go for 25% tariff hike.
10. Now as per report, US may go for 10% tariff hike.
11. That is the reason why markets are not reacting very badly.
12. Hong Kong is down by about 500 points due to the Hurricane and US tariff news.
13. On Friday Nifty shot up just because of short covering.
14. Markets may start stabilising at the lower level.
15. In 2013, Rupee fell from 55 to 68.
16. Then for the next 5 years, it was consolidating.
17. I believe now, after moving from 65 to almost 73, it may depreciate further if emerging market problems continue, by another few rupees, then it may consolidate for next many years.
18. SGX Nifty is trading around 11500 which is not bad.
19. Since we have only 8 more trading sessions, option premiums may start falling, if market consolidates.
20. But not every one is expecting consolidation.
21. Mr Anuj Singhal of CNBC is of the opinion Nifty might move 500 points in the next three weeks.
22. We need to see how Bank Nifty performs as it has been under performing.
23. Dollar index is down slightly and Crude prices are also down slightly but they are coming on the back of negative news.
24. So thenews dominates the markets.
25. Nifty future may trade between 11450 and 11550.