Pre Market Report, October 24, 2019 | Stocks and Commodities

October 24, 2019
Time: 8 am

Pre Market Report:

1. Yesterday also markets were highly volatile.
2. In the morning RBL bank hit 10% circuit.
3. That led to huge selling in Bank Nifty.
4. Bank Nifty future traded at a significant discount.
5. Later markets stabilised.
6. ICICI Bank looking very strong.
7. As per some reports, its weightage increased from 3% to 5% in MSCI Index.
8. HDFC Bank is also looking very strong.
9. Kotak is looking weak.
10. SBI is looking very good ahead of its results tomorrow.
11. Markets closed in Doji pattern which shows indecisiveness.
12. Markets are waiting for election results.
13. Nifty 11700CE has huge OI.
14. That will be a very strong resistance.
15. We can expect Nifty to expire between 11600 and 11700 today.
16. Bank Nifty OI added from 29700 to 30000.
17. Day before yesterday 29000PE and 30000CE had huge OI.
18. Bank Nifty may expire between 29200 and 29800.
19. Election results will bring some volatility.
20. US markets closed slightly higher.
21. Asian markets are positive.
22. SGX Nifty is trading about 30, 40 points higher.
23. Before 9.15 am, the trend will emerge in Election results.
24. Option premiums increased in the last half an hour due to this results.
25. Hero and L&T came with results that beat street estimates.
26. Today Maruti will be in focus.
27. Auto stocks are generally looking good.
28. Reliance is met with profit booking.
29. As expected Bank Nifty is catching up with Nifty.
30. Since we have consolidated for two days, the rally may resume anytime.
31. If everything goes well, we can expect all time high in November series.
32. Be ready for another volatile day.
33. India VIX is likely to go down after election results and hence the premiums.
34. After today's trade, there are only four more trading sessions (excluding Muhurat Trading)
35. Nifty future may trade between 11620 and 11740.