Pre Market Report, June 27, 2019 | Stocks and Commodities

June 27, 2019
Time: 8.10 am

Pre Market Report:

1. We are coming to the end of June series.
2. Some interesting facts about June series.
3. Entire June series traded within one day range of May 23.
4. Only on two days, Nifty broke briefly on the higher side.
5. Markets moved violently almost everyday but still traded within the range of May 23.
6. Many stocks hit 52 week lows and many stocks trading below 200DMA, specially from mid cap and small cap space.
7. In the beginning of the month I said Nifty is likely to trade between 11600 and 12400.
8. Nifty tested the low end of the range 4 or 5 times, but every time Nifty went to 11600, took support and shot back.
9. Day before yesterday low 11668 and yesterday high 11890, more than 220 points move in just 2 trading sessions.
10. We have under performed the world markets in June.
11. What is going to happen in July is anybodys guess.
12. Yesterday Nifty opened slightly lower but the selling was absorbed immediately.
13. Yesterday again both FIIs and DIIs were net buyers but both for less than Rs 100 crores.
14. Today is the expiry, real expiry for 34 stocks that will be getting out of F&O.
15. Now those volumes will have to be channeled to other stocks improving liquidity.
16. Nifty max pain is at 11800. Huge OI added at 11800PE. Huge unwinding was seen at 11800CE.
17. So for today's trade 11800 is likely to be a very good support.
18. Even 11900PE added OI and that shows the bullishness of the market.
19. Bank Nifty max pain is at 31000.
20. Huge OI added at 31000PE and 30500PE yesterday.
21. OI added at 31200, 31400, 31500CE also.
22. We can expect Bank Nifty to take good support at 31000.
23. Since the FII buy figure was very low, markets may come under some selling pressure, if opens higher.
24. Reliance again fell yesterday while HDFC bank hit fresh all time high.
25. SGX Nifty is trading almost flat. Markets may consolidate after two days of gain, that too more than 200 points gain.
26. However there may be some sharp move towards the end of the day.
27. HDFC Bank, Titan, Power Grid, ICICI Bank, Bajaj Finance are the 5 Nifty 50 stocks to hit fresh all time high.
28. REC Ltd, the stock which I am holding also hit all time high.
29. SBI is looking very bullish among PSU Banks.
30. Nifty future may trade between 11800 and 11920.