Pre Market Report, November 13, 2018 | Stocks and Commodities

November 13, 2018
Time: 8.25 am

Pre Market Report:

1. Most of the people on the ground are bearish.
2. Nifty shot uo 650 oints from the recent low.
3. People were looking for an oppotunity to short.
4. Yesterdat the news came that Saudi is planning to cut Crude out put by 1 million barrel per day.
5. Immediately our markets fell, HPCL fell more than 7% the top loser.
6. US markets favored the Bears this time.
7. Lumentum, an Apple iPhone supplier announced that a big customer cut the orders, the big customer is obviously Apple.
8. Lumentum fell 33%, Apple fell 5% and in Asia all Apple suppliers fell, many more than 10%.
9. Not everything is bad, there are some good news also.
10. IIP data came at 4.5% vs expectation of 4.1%/
11. CPI Inflation came at 3.3% vs expectation of of 3.7%.
12. FIIs continue to buy in Cash market.
13. Yesterday they have bought for more than Rs 800 crore, one of the highest in the recent weeks.
14. Crude oil fell after Trump Tweet, trading lower than yesterday morning price.
15. Corporate results are not bad, Titan up by 6% after results.
16. Coal India, last Nifty 50 stock declared results which is also good.
17. RBI Governor met PM and the talk of RBI Governor resigning will die down.
18. There are no report of any Hosing Finance Company or NBFC facing liquidity problem for rolling over their debt.
19. Earler there were many rumors of some companies defaulting, going bankrupt, etc.
20. But despite all these good news,markets will open lower due to Global cues.
21. Shorting the market after gap down is not a good idea.
22. I will not be surprised if Nifty closes almost flat at the end of the day.
23. SGX Nifty wentbelow 10420 but recovered later and now trading around 10455.
24. Compared to Global markets this is a mild down tick.
25. Nifty future should take support at 10420 and resiatnce willbe at 10520.