Pre Market Report, November 27, 2018 | Stocks and Commodities

November 27, 2018
Time: 8.30 am

Pre Market Report:

1. US markets closed higher.
2. Asian markets are higher generally.
3. But Trump tweeted again regarding China Trade.
4. He said, tariff may be increased by 10% on China made phones.
5. Apple phones are madi in China.
6. So Apple fell in after market trades and hence US futures.
7. Despite this tweet, most Asian markets are in Green.
8. Hong Kong is down, naturally.
9. SGX Nifty is trading around 10600, about 40, 50 points lower.
10. But I do not think we will open that much lower.
11. We may open 20, 30 points lower.
12. Yesterday short covering rally started with IT stocks moving higher.
13. HDFC Bank has helped Bank Nifty to touch swing high.
14. Yesterday both FIIs and DIIs were net buyers in Cash market.
15. We have only 3 more days for expiry.
16. I have been saying Nifty is likely to expire between 10500 and 10800.
17. But Bank Nifty is at swing high.
18. It will be interesting to see where Bank Nifty expires.
19. Huge OI added at 26000PE.
20. So 26000 will be a very strong support for Bank Nifty for this expiry.
21. Nifty future may take support at 10580.
22. Resistance may come at 10680.