Pre Market Report, November 11, 2019 | Stocks and Commodities

November 11, 2019
Time 8 am


Pre Market Report:

1. Asia started mixed with Australia, Japan up and South Korea down.
2. Three shots were fired at Hong Kong protesters and one reportedly dead.
3. This escalation of tension soured the sentiment in Asia and Japan also turned negative now.
4. Hong Kong and Chinese markets opened significantly lower.
5. Also Trump tweeted by saying US is not ready to roll back tariff against China.
6. SGX Nifty is also down by about 30 points from intraday high.
7. But many times we have not followed the global cues.
8. First some positives about India.
9. Despite Nifty falling more than 100 points, FIIs were net buyers on Friday in Cash market. That too for Rs 932 crores which is a very significant number.
10. Supreme Court verdict on Ayodhya has gone down very well, there was no violence reported from any part of the country.
11. Saudi Aramco IPO begins on November 17 and that is good news for Reliance.
12. Bank of Baroda results are not bad and that is good for PSU Banks pack.
13. Asia is down but we fell significantly already on Friday.
14. Supreme court originally was to give verdict this week. But decided to prepone the verdict to Saturday.
15. The official news came on Friday evening. It seems that some insiders knew about this news.
16.  That could be a reason for such a fall, 150 points fall in Nifty in half an hour time, on Friday.
17. ICICI Bank was the lone star in Nifty pack.
18. Bank Nifty closed more than 100 points higher while Nifty closed more than 100 points lower.
19. Nifty is likely to consolidate between 11800 and 12200 until the end of this expiry.
20. Bank Nifty under performance for the last few months may get corrected in the next leg of the rally as and when it comes.
21. IIP and Inflation data are due this week.
22. IIP data today, CPI inflation data tomorrow, both will come after market hours.
23. Markets may open lower but I will not be surprised if markets close higher.
24. Short sellers may like to square off their trades ahead of holiday tomorrow.
25. Auto stocks may be under pressure as Maruti announces plant closure.
26. Maharashtra political situation is also not good.
27. If Shiv sena forms Govt with the help of Congress and NCP, then that will be seen as a setback for BJPs winning streak.
28. Nifty, after shooting up from 11200 to 11700, consolidated for about 7, 8 trading sessions.
29. Now, after shooting from 11700 to 12050, it is consolidating.
30. This consolidation, with huge volatility, may continue for many days.
31. As long as Nifty is not breaking 11700, Nifty will hit all time high by the end of this year.
32. For today, Nifty future may trade between 11880 and 12020.