Pre Market Report, October 25, 2018 | Stocks and Commodities

October 25, 2018
Time: 8.30 am

Pre Market Report:

1. Yesterday, Nifty opened more than 100 point gap up but sold in within few minutes.
2. This is the third selling after opening gap up of 100points in this month.
3. First at 10700, second at 10400, third yesterday at 10280.
4. Later markets recovered and then FII selling came and Nifty fell about 120 points from intraday swing high.
5. Then DIIs should have bought heavily, Nifty again shot up by more than 120 points from intraday low.
6. It was such a roller coaster ride, markets are not for weak hearted people.
7. When our markets closed DOW futures was trading more than 100 points higher.
8. When thier markets opened, huge selling came and Dow fell more than 800 points.
9. That is a swing of more than 900 points from yesterday evening.
10. The major selling came in Tech stocks which fell about 5%.
11. Bt after US markets closed, Microsoft came with good results, now it is up by more than 4% in after market trades.
12. So Dow futures is up by about 100 points, Nasdaq futures is up by about 1%.
13. Asian markets all opened between 2 to 3% lower.
14. But later they all have recovered some lost ground.
15. But still they alltrading 1 to 3% lower.
16. SGX Nifty broke 10100 yesterday night and closed at 10094.
17. Now it has recovered a little and trading around 10140.
18. The good thing is that Nifty may open higher than yesterday's low.
19. But surely intraday volatility will bring that down below 10100.
20. Highest open interest among Puts is at 10000. So only that can be a good support.
21. Crude is one good thing for us.
22. It is trading around $75.
23. Nifty will gap down, then will be volatile depending on when FIIs sell and DIIs buy and then we can expect a huge move on either side between 3 to 3.30 pm.
24. So intraday palyers, keep stop loss or exit before 3 pm.
25. Nifty may trade between 10080 and 102250. (Every time I give a range and that fails, so given a wider range)