Pre Market Report, October | Stocks and Commodities

October 18, 2019
Time: 8 am


Pre Market Report:

1. Yesterday market move was due to Brexit deal.
2. Nifty hit a low of 11090 in October series.
3. Yesterday Nifty it a high of 11599, which is series high.
4. Nifty has already swung 500 points down and 500 points up in this series.
5. We have two more weeks to go.
6. There will be more fire work in the next two weeks.
7. Though there are only 8 trading sessions for expiry, there many events.
8. First, Nifty hit 11700 on Sep 23 and Bank Nifty 30800.
9. Now Nifty is just 100 points below that level but Bank Nifty is down by 1800 points.
10. Bank Nifty has more than one third weightage in Nifty and fall in Bank Nifty by 1800 points would have contributed 600 points fall in Nifty.
11. Despite that Nifty is just down by 100 points.
12. This means Nifty out performed by about 500 points.
13. From today until the end of next week, HDFC Bank, Kotak Bak, Axis Bank, SBI, RBL Bank, ICICI Bank results will come.
14. If those results are good and if Bank Nifty shoots up to Sep 23 level, then Nifty can easily cross ATH.
15. In addition, we have Reliance, Bajaj Twins, Maruti, Bajaj Auto, Asian Paints, Hero Moto results are also due in the next one week.
16. Next Tuesday will be a big day as markets will react to Reliance, HDFC bank, Axis Bank results over the weekend.
17. Exit poll results of two state elections will also be out by Monday evening.
18. During the trading hours on Tuesday, Kotak Bank will declare results.
19. All these will make markets more dynamic in the next two weeks.
20. Yesterday once again FIIs have bought for more than Rs 1000 crore in cash market.
21. So market is in a clear up trend.
22. Any intraday dip, I suggested selling PE of 11200 and below.
23. Now on every dip, can sell 11300PE also.
24. Now 100DMA of about 11400 will be a strong support.
25. We can expect some sharp move towards the end of the day.
26. Traders will like to square off their positions ahead of 3 day weekend.
27. Yesterday was a fantastic expiry as the move was just one side.
28. Sold huge put options and call option SL triggered.
29. Yet made more than a crore yesterday.
30. Today Nifty may consolidate in the first half and there may be some sharp move in the second half.
31. Nifty future may trade between 11550 and 11660.