Pre Market Report, November 09, 2018 | Stocks and Commodities

November 09, 2018
Time: 8 am

1. US mid term election results came as epected.
2. Senate has gone to Republicans and House to Democrates.
3. Fed policy also in line with expectation.
4. No rate hike but indication of rate hike in December.
5. Stock markets reacted positively for mid term elections.
6. But not reacted well for Fed policy.
7. Brent Crude oil fell more than 20% from the recent peak.
8. So Crude has entered Bear market. That may be a good news for India.
9. But on the ground level, Disel prices are not coming down, earlier there used to be a difference of Rs 10 between Diesel and Petrol, now a days it is not even Rs 5.
10. I have all Diesel cars. So there is a reason for me to worry.
11. Global news flow, US Mid Term Election, Fed policy, gone.
12. Now RBI-Govt news will dominate the markets.
13. All kinds of rumors will fly until November 19.
14.  Corporate results season is coming to an end.
15. Titan will declare results today and it is expected to be good.
16. OMCs and Auto stocks will be in focus as Crude enters Bear market.
17. Banking and NBFC, Housing Finance companies will be volatile due to Govt-RBI issue.
18. SGX Nifty hit a high of 10717 yesterday and a low of 10576 today morning.
19. Now it is trading around 10590.
20. Markets will see further short covering only if Nifty crosses 10650.
21. Until then we can expect markets to consolidate between 10400 and 10650.
22. Today as long as Nifty future holds 10580, we can hope for a better market.
23. Support will be at 10520 if markets show volatility.
24. Resistance will be at 10650.