Pre Market Report, June 12, 2019 | Stocks and Commodities

June 12, 2019
Time: 8 am

Pre Market Report:

1. US markets snapped 6 day rally to closed in Red.
2. But US markets were higher intraday and closed slightly in Red.
3. Asian markets are mixed.
4. SGX Nifty is down by 15, 20 points.
5. Remember when the entire Global markets were doing extremely well, we under performed due to local cues like DHFL, IB Housing, etc.
6. So we may not follow the Global cues in the next few days.
7. Nifty is coming under selling pressure above 12000.
8. Yesterday also Nifty future fell more than 40 points from intraday high.
9. All Indian ADRs closed in Green.
10. HDFC Bank ADR hit all time high.
11. Yesterday Reliance helped Nifty to stay positive.
12. Crude is down by about 1%.
13. So OMCs and Auto stocks may be in focus.
14. FIIs were net buyers in Cash market.
15. They were bullish in F&O market also. They have bought Index Futures for about Rs 950 crores.
16. But DIIs have sold in Cash market.
17. But both FII buying and DII selling are for insignificant amount.
18. India VIX is around 14.5.
19. That shows the kind of narrow consolidation we are in.
20. Today evening IIP and CPI Inflation data is due.
21. Inflation is likely to be slightly higher.
22. So it will be interesting to see how Bank Nifty reacts.
23. Bank Nifty has been hugely volatile for the last many days.
24. Nifty max pain is around 11950 for weekly options.
25. There was unwinding in Calls and huge additions in Puts.
26. Options OI data suggests bullishness in the market.
27. Nifty 11900PE added huge OI in weekly options.
28. So 11900 may be a very good support now.
29. Bank Nifty also the same, huge unwinding in Call options and huge addition in puts.
30. Bank Nifty 31000PE added huge OI and that could be a strong support for weekly expiry.
31. Nifty future may trade between 11940 and 12060.