Pre Market Report, September 23, 2019 | Stocks and Commodities

September 23, 2019
Time: 8 am

Pre Market Report:

1. There is nothing to write in Pre Market today.
2. Corporate tax cut to 22% is a Historical event.
3. When US cut tax, markets went up 15%.
4. In 1997, when corporate tax was cut to 35% from 40%, Nifty shot up 13.4%.
5. We ave been under performing world markets for last 3 months.
6. Now that will get corrected.
7. For most of the clients exited all positions and just sold only Put options.
8. There are few clients who are caught and I have to close positions today.
9. No point in holding short positions any more.
10. In March Nifty shot up 1000 points.
11. That came after huge selling in Dec, Jan, Feb.
12. Now same thing, FIIs have sold hugely in July, August, September.
13. Now markets are turning, Nifty is likely to hit all time high in October.
14. Difficult time for traders as markets making violent moves in the last few months.
15. Short covering can make markets move to any level.
16. However DIIs are likely to book some profits capping the upsurge.
17. SGX Nifty is trading about 200 points higher.
18. Nifty future likely to face some resistance at 11500.