Pre Market Report, November 1, 2018 | Stocks and Commodities

November 1, 2018
Time: 8.30 am

Pre Market Report:

1. US markets shot up for second day.
2. Suddenly all looks good for India.
3. Crude is down.
4. FIIs sold just over Rs 100 crores in Cash market.
5. Short sellers trapped yesterday for 2nd day in a week.
6. Intraday recovery of more than 300 points in Nifty is one of the highest in History.
7. Now SGX Nifty trading higher than yesterday's high.
8. L&T came with good results.
9. HDFC shot up by more than 5% on short covering ahead of its results today.
10. Makets turned around when every technical analysts busy in finding bottom whether it is at 9000 or 6800 or 4500.
11. Now every technical analyst say, "10500 should be crossed decissively then only we can hope for further upmove", etc.
12. If Nifty goes up another 400, 500 points then every technical analysts will be busy forecasting 12000 or 12500.
13. What a market? Make everybody fool!
14. HDFC Bank, Kotak Bank, Reliance, ITC 4 index heavy weights did not participate in short covering rally yesterday.
15. If they also start participating, Nifty will shoot up another 100 to 200 points easily.
16. I am expecting some kind of short covering in HDFC Bank and Kotak Bank today after 3 pm.
17. So the action is reserved for Bank Nifty weekly expiry.
18. Auto stocks will be in focus as monthly auto sales data will be out.
19. Despite huge fall in Crude prices, most Auto stocks are tradin at swing low.
20. Maruti made 52 week low yesterday.
21. I bought Adani Ent 170CE, sold 2X190CE and 1X200CE.
22. It has come out with good results, seems that I will make good profit.
23. Nifty future is likely to open around yesterday's high and it can move towards 10480.
24. Support will be at 10380.