Pre Market Report, November 29, 2018 | Stocks and Commodities

November 29, 2018
Time: 8.30 am

Pre Market Report:

1. Dow up more than 600 points.
2. Infosys ADR up by more than 6%.
3. Both ICICI Bank and HDFC Bank ADRs up by around 2.8%.
4. SGX Nifty up by more than 100 points.
5. Thanks to Fed Chairman and his Dovish comments about interest rate.
6. Yesterday unsually both Nifty futures and Bank Nifty futures were trading at significant discount to the corresponding spot prices.
7. November is a fantastic series with about 8% gain in Nifty.
8. Individual stocks gained 15 to 20%. Just look at Hindustan Unilever, L&T, Titan, HDFC Bank, HDFC, etc.
9. Today OMCs may be in focus after upgrade by a foreign brokerage.
10. Hong Kong has given up all the gains today morning.
11. SGX Nifty has come down below 10800.
12. There will be some panic short covering in the first half an hour.
13. Then markets may settle down.
14. FIIs continue to buy in Cash market.
15. Crude has fallen again, trading below $59.
16. So today will be an interesting expiry.
17. REC and PFC falling 9 to 10% did some damage to my portfolio.
18. Hope it recovers some ground today.
19. Bank Nifty may expire between 26500 and 26800.
20. Nifty may expire between 10780 and 10820.