Pre Market Report, September 26, 2019 | Stocks and Commodities

September 26, 2019
Time: 7.30 am

Pre Market Report:

1. Yesterday our markets fell, it was a good fall.
2. Nifty has fallen 250 points from week high.
3. SBI loan pricing led to a 8% fall which was very severe.
4. When markets shoot up in a very short span, this king of huge selling will come even if there is small bad news.
5. HDFC Bank fell as its ADR fell in US.
6. Again there is no 1:1 correlation between HDFC Bank and HDFC Bank ADR as ADR is tradaing between 10 to 15% premium.
7. That premium keeps changing depending depending on their perception.
8. Bank Nifty hasfallen about 1200 points in last two days.
9. Yesterday US markets were higher.
10. Now Asian markets are higher.
11. SGX Nifty is trading about 50 points higher.
12. Yesterday Nifty future stabilised around 11500-11520, then in the late afternoon selling came and fell another 70, 80 points.
13. Now Nifty future is trading around 11500-11520 in Singapore.
14. Markets may open in this region and may consolidate.
15. If 11520 is crossed decissively, further short cpovering will take Nifty to 11580-11600.
16. There is no point in looking Max Pain today as markets made huge moves in the last 4 days.
17. The way markets are positioned, we can expect a big move today also, probably on the higher side.
18. Crude is lower, Global cues are good, Nifty has corrected about 250 points in last two days, so we can expect some decent up move today.
19. Huge OI added at 11500 and if 11500 is crossed, unwinding of 11500CE will move the markets higher.
20. Nifty future may find resistance at 11520 and if that is crossed, next resistance will be 11580.
21. Bank Nifty may find resistance around 30000.